Meanwhile in Biden’s economy consumers are confident.. https://www.cnbc.com/2023/11/25/bla...e-sales-up-7point5percent-from-last-year.html
Consumers are so confident their CC debt is up. Americans are drowning in credit card debt thanks to inflation and soaring interest rates
Did you read beyond the headline? From your article: So the rates are moving to historical normal levels off of historical lows.
apples and oranges bro, and you know it. The comment was about rising debt, and your quote is about rising delinquency. You are the one who needs to read. Just saying. #hugs
Apples and apples. The debt from the article isn’t adjusted into real dollars so it looks like it’s up when in fact… debt is at an all time low. This lesson is free…Happy Thanksgiving Household Debt Service Payments as a Percent of Disposable Personal Income
That’s not what it says about where it’s at presently. Just that it’s not at worrisome levels. There are more studies that say it’s too high and getting higher. I pointed out one study that mentions it is an issue. Article wouldn’t exist if not.
People are invested in the narrative. The article has a link to this graph that is based on raw dollars that when you adjust to income is basically my graph. Plus over 70% of debt is housing. There is a lot more to it than inflation has people broke so they are borrowing. It’s not what the numbers say.
Here you go.. also not adjusted to real dollars but look at the red line I added. What you have are people comparing the trough of covid to now… not to normal. it’s not flashing as an issue to me. What am I missing? Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks
You’re missing the MAGA narrative “the Economy sucks” despite all the #’s saying it doesn’t. The fact is they have clue about anything to do with finance and micro and macroeconomics.
No “you” are missing the narrative. I posted a link that says CC debt is approaching a concern. It’s not MAGA anything. I think the economy is doing fine considering. The American public is driving the economy, always has and always will barring exceptions like a market adjustment and occasionally a recession. My point was that some people feel good enough about the economy that they are freely spending with CCs even though the rates are up. I’m sure some is out of necessity and not good feels.
Your point was “but, but look at this…” which was knocked down by city in not one but three charts…..
You’re still missing the point. I posted a link showing CC debt is going up. Wasn’t meant as a positive or negative for Biden. It’s a small part of the over all economy, which I said is doing fine. If that bothers you I apologize for triggering you.
let me see if I understand the premise of your previous post. You expect that anytime a poster wants to make a point and therefore post a link to an article, as a prerequisite the poster must first look up the underlying data from the link…and if they don’t you get to accuse them of not reading their own link by pointing out something irrelevant to their original point. Is this the standard you want to be judged? why is it so difficult to concede an error? SMH BTW. I didn’t even look at the data you posted because I don’t give a poop.
I recommend Too Hot changing to … I’m Thinking About Trump Are You Thinking About Trump ? Admittedly a little unwieldy.
