Americans now have the highest credit-card debt in U.S. history

Here we go again! And now we see what this wonderous "recovery" has really created:
Americans now have the highest credit-card debt in U.S. history

http://www.marketwatch.com/story/us...e-as-much-debt-as-they-had-in-2008-2017-04-03

Thanks, Federal Reserve System! Thanks, Democrat Welfare Circus! Between the Fed artificially manipulating the economy to punish people who actually SAVE money, and the subsistence-level welfare provided by socialist-Democrats for eight years under Comrade Obama, look at where we are today!

We are creating the same bubbles in the economy that existed before "The Great Recession" that blew up in everybody's face starting exactly ten years ago, in August 2007. And when it blows up again, who's going to get the blame? Trump, of course!

Hint: you can dig your own financial grave with a credit card. It is easier than most people think.... All you need is ignorance, stupidity, and a total lack of any kind of discipline and self-control. Go dive into the hog-wallow of debt again, America! Lose your homes, your jobs, and your lives -- again! After all, "Repetition provides reinforcement!"

. "Krushchev was almost right... except that it's Americans who will bury themselves!"

 

Trump will have a Congress full of Dems by the failure and he will blame them, promise that he will never accept fault, (for anything, ever)... Or, he will blame the R&R NOT happening fast enough, thus he couldn't get thru the tax cuts that would have fed the economy. I can think of 20 things he will blame that will all have 1% to do with it...

What people HERE need to know is that a HUGE economic down turn will happen like 2000 - 2008. When you deregulate everything, the rich take advantage of it, thus prepare. Even the republicans old enough that are here remember it and know it will happen.

 

Well, I can see that Americans didn't learn their lesson from the great recession.

 

Big banks have destroyed us by sticking us with massive debt while they soak up the money.

 

No one has learned a lesson and it is painfully obvious you are included.

 

Are you going to explain that comment or are you just going to leave it up in the air???

 

I don't have time to explain it but every depression and or recession is by design.

 

By the way, great post. So true and it is both sides making the mess. As a MIDDLETON, what are we to do other than prepare for it... Can you imagine what the price of GOLD is going to be ? SO so so awesome, I been loading in this area for quite a while, with a backup of silver a little...
I make sure to get either eAGLES OR 2015 RELIEF coins... They will hold their value well with so little made...

 

Beware! All central banks, including the Federal Reserve hate and detest precious metals, and they do everything in their power to suppress the value of gold and silver. Why? Because commodities are much harder to control than imaginary money they stuffed client-banks with during "The Great Recession". And because gold and silver have intrinsic value on an international scale, they are harder for the Fed to control than anything else....

Also, remember that the government can force you to give up your gold (and silver, too, presumably). The Great Socialist Demi-god president, Frankie Roosevelt, actually did this in 1933, and Americans remained forbidden to own gold until 1974! Just be careful... I wouldn't put ANYTHING past the Federal Reserve combine. And make no mistake -- these central bankers make ALL the important financial decisions today, because starting ten years ago, they literally took over the economy of the United States!

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Kinda looks that way, doesn't it?

Even before the Crash I can remember gazing in wonder and bewilderment at all the people who were up to their eyeballs in credit card debt.

 

Or the great recession has officially ended and it is back to business as usual....BTW credit card debt is still less than student loan debts and a lot more people have credit cards than student loans, so maybe we need to address the bigger problem first---it costs money to make money.

 

I own 4 precious metals and suggest others to do the same

Gold and silver in our safe

Lead jacketed within brass stored in our ammo boxes

 

Yeah, people are living beyond their means and using the credit card to finance their lifestyle. And when things get desperate they are going to try and work another job to make ends meet. Will it work or will they just walk away like they did in 2008???

 

Well, then they're ahead of me. I worked part time and went to college. It took me 10 years to get an associates degree in Liberal Arts. Other people took out student loans and went on to get a bachelor's degree.

I'm not in debt, but I didn't make it very far.

I want to know what's the secret to fix the problem of it takes money to make money, because based on personal experience it doesn't work like that... They say time is money too...

 

What the ****, man! Is everyone running around pretending to be millionaires or something. I've never missed a cc payment in over 12 years making a little over 100,000 a year, and I live more comfortably than I ever imagined growing up. How hard can this be?

 

I've actually had a few "progressives" start arguing with me when I blamed the irresponsibility of ordinary Americans for instigating the Crash.

At the time, I lived in an inner city neighborhood that was being renovated and flipped to death during its gentrification process and people were squandering madd money on outrageously over-priced real estate in an outrageously over-inflated market. It was literally insane. Not surprisingly, within a few years half of them were bailing and defaulting on their homes. But we're supposed to believe that Bush/Wall Street/(insert scapegoat here) forced them to sign on the dotted line.

Meanwhile, my wife and I sat on the sidelines and waited for sanity to return to the market and when prices and mortgage rates hit rock bottom we finally jumped and got a great deal on a home and lots of land.

People have to be smart and make responsible decisions. It's no more difficult than being stupid and making irresponsible decisions.

 

If Time is money then money is time. The more of it you have the less time you have to spend fretting over it. The secret to it takes money to make money is simple--a pack of smoke a day is $150 a month you could be investing; the latest X-Box game is $60 you could be investing; that tattoo is money you could be investing. You can invest all the time you want, but money is what begets money.

 

My story is similar. It took me 10 years th get my bachelors. Went to school part time for the first 8 and worked full time in a deli to pay for it, with some help from Mom & Pop. Then I met my future wife, needed to finish school fast, so worked two jobs with a full-time college course load. I studied for exams in between slicing meat, and worked 4 hours a night at UPS 4 nights a week. I was a slave for 2 years and barely more than that the 8 years before, but I got my degree with no debt.

I work with teens now, and even the best of them expect everything pretty much handed to them. Most of them can't imagine working through college; it's too much for them. Young Americans have grown weak, preferring debt-slavery to the hard work one has to put in for economic freedom.

I could be wrong.

 

LOL - No kidding. I didn't get a credit card until I was 47 years old and I got by just fine. The only reason why I keep one around and use it is to keep my credit rating high, and I always pay my bills in-full and on-time.

C'mon, people!

 

Banks don't stick you or anyone else with debt. Its a decision you alone make.

 

we are on our way to a cashless society, a debt or credit card is a must.

 

I've heard about how we're headed for a cashless society and I can't say I'm entirely happy about. Not only will we get charged for every transaction we make people will be able to track every transaction we make - another shred of our privacy bites the dust. I'm not against having a debit and/or credit card - I have both - but it's nice to have a choice.

 

you always have a choice.

 

If only that were true...

 

I think we have to use a little rational thinking here in that :

1. 1933 is over and no way will they come for the GOLD.
2. Gold went from 700 to 1800 on that last turn.
3. It has gone no lower than 1100 since that 1800 of 2012 / 13. WHY ? Because someone is still buying as a back stop. It should have easily gone back to 900.00 and didn't even get close and we are in a huge up cycle. Now holding at 1250.00
4 your Warning ? What is it, that what could or would happen, the FED cannot lower the price of GOLD. THey have also printed so many dollars that the price of gold to the dollar should be 5500.00 right now. I think this is partially the reason for the lack of drop.
5. 3% GOLD is about 17 - 40% to low of a holding when this thing turns. That is still 5 years away. But when the times comes, the dollar is going to fall hard vs GOLD which will rocket up.
6. Sell the GOLD, by real Estate and retire. Just like that !