Household debt jumps the most in 12 years, Federal Reserve report says

Thats great news. Thanks for posting. More student loans, more mortgages! What is the increase per capita?

 

The level of household debt service as a percentage of disposable personal income is at all-time lows going back to 1980.​

https://www.cnbc.com/2020/02/11/hou...-in-12-years-federal-reserve-report-says.html

 

As they say, a democracy can only last 200 years. Once the population realizes they can vote themselves more money, they will, which leads to economic collapse.

 

We're not even close to where, say, Japan is when it comes to debt-to-GDP. Countries can limp by for a long time piling up debt before it gets serious, esp. in times of record low interest rates.

 

You mean many individuals in America have a problem with delayed gratification?

 

Correct, or even what is doing what is right for their children or grandchildren.

 

Yea, the poor policy of the borrower. Friggin kids with credit cards and Amazon is like Peggy Bundy and the shopping network.
The data also show that transitions into delinquency among credit card borrowers have steadily risen since 2016, notably among younger borrowers,” Wilbert Van Der Klaauw, senior vice president at the New York Fed, said in a statement.

 

Best question to ask is this....why do you have three?

 

Two are mine with about the same credit line. The third is one my wife has for Amazon, which is mine but I dont use.

Credit availability raises your credit score.

 

So it is the youths fault for credit card debt and the democrats fault for the national debt.

Republicans must either be saints or incompetent to be responsible for absolutely nothing.

 

Not completely, but a significant amount according to Wilbert Van Der Klaauw, senior vp of the New York Federal Reserve. BTW, I’m sure Wilbert has forgotten more about economics than you and I combined will ever know.

 

And Jeff Bezos thanks you 165 million times.

Jeff Bezos reportedly just bought the most expensive home ever sold in California — after spending nearly a year touring mega-mansions

Architectural Digest. Bezos reportedly paid film producer David Geffen $165 million for the estate, which would make it the most expensive home ever sold in California.

 

And the FED chair has said our healthcare system is one of the primary issues — we pay 7% more of our GDP (or $1.5008 trillion) per year than other nations with better healthcare. That coupled with military spending at three time the next highest nation is what is the issue.

Just bringing those two down to reasonable levels would save us close to $2 trillion per year.

 

Not surprised to see personal household debt climb the way it is....when Obama and the Dems took over the student loan business, things got greatly out of control, and have created a massive bubble, and a pending crisis.

 

This is so true....look at the amount of people voting for, and supporting a socialist for President....we all know how socialism ends.....

 

The world we live in, AND we just bought a new house. There's a half dozen amazon boxes at my house every day when I get home.

I'd love to use someone else but until someone else can provide me with 2-hour delivery on anything I can think of wanting, I'm stuck.

Good for him though. He should enjoy the benefits of the global company he built.

 

Bingo.

 

Are you suggesting it's NOT their fault? I have three 'youth' in my house, and not one has a credit card.

 

Seriously?

 

Only other option where I live (which is a 28 minute round trip to the nearest gas station) is WalMart. Not only are they more expensive, but they're not giving me 5% back on every purchase.

 

If only the person taking on debt had some way to personally control the amount borrowed.

 

If you lack the integrity to respond to my entire post without editing down sentences feel free not to reply.

 

If you start using logic and facts they'll call you a racist phobe-something.

 

Not at all.

They were probably just cleaning their credit card and it went off, hitting Amazon prime for $500.

 

Is that what happened with the national debt? Boomers et al cleaning their colostomy bags?