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NY Fed warns of mass defaults as household debt hits a record $17.5 trillion.
NY Fed warns of mass defaults as household debt hits a record $17.5 trillion.
By Majik
21 Feb 2024 1:39 pm in No Holds Barred Political Forum
14 posts • Page 1 of 1
21 Feb 2024 1:39 pm
That’s up $3.4 trillion since the pandemic — almost $30,000 per household. On top of $10 trillion in new federal debt — almost $80,000 per household. In all the average American household is now carrying over $400,000 in debt. They make one-sixth that. Debt is clearly unsustainable at this point. And it’s the only thing holding up the economy.
https://choiceclips.whatfinger.com/2024 ... -trillion/
@R. Suave
Come and eat some crow .....
https://choiceclips.whatfinger.com/2024 ... -trillion/
@R. Suave
Come and eat some crow .....
21 Feb 2024 1:40 pm
You wanna see the math that gets you there?Majik » 21 Feb 2024, 2:39 pm » wrote: ↑ That’s up $3.4 trillion since the pandemic — almost $30,000 per household. On top of $10 trillion in new federal debt — almost $80,000 per household. In all the average American household is now carrying over $400,000 in debt. They make one-sixth that. Debt is clearly unsustainable at this point. And it’s the only thing holding up the economy.
https://choiceclips.whatfinger.com/2024 ... -trillion/
@R. Suave
Come and eat some crow .....
21 Feb 2024 1:48 pm
Interest rates?
21 Feb 2024 1:48 pm
No, because The PHD economist has already explained the math which is contrary to any **** you will try and sell ...
follow the link to his math .....
Mass Defaults don't happen in a healthy economy ....
21 Feb 2024 1:52 pm
Under GOP administrations since 1980, spending has risen at an average annual rate of 6.35%....revenues at an annual rate of 4.17%.Majik » 21 Feb 2024, 2:48 pm » wrote: ↑ No, because The PHD economist has already explained the math which is contrary to any **** you will try and sell ...
follow the link to his math .....
Mass Defaults don't happen in a healthy economy ....
Does that look sustainable to you?
21 Feb 2024 2:00 pm
Your strawman argument holds no water in today's world ....or reality.R.Suave » 21 Feb 2024, 2:52 pm » wrote: ↑ Under GOP administrations since 1980, spending has risen at an average annual rate of 6.35%....revenues at an annual rate of 4.17%.
Does that look sustainable to you?
Nod.
21 Feb 2024 2:04 pm
Credit cards alone are well over a trillion... and that's unsecured debt.Majik » 21 Feb 2024, 2:39 pm » wrote: ↑ That’s up $3.4 trillion since the pandemic — almost $30,000 per household. On top of $10 trillion in new federal debt — almost $80,000 per household. In all the average American household is now carrying over $400,000 in debt. They make one-sixth that. Debt is clearly unsustainable at this point. And it’s the only thing holding up the economy.
https://choiceclips.whatfinger.com/2024 ... -trillion/
@R. Suave
Come and eat some crow .....
I am glad to say that we owe $0 to anybody. I haven't had as much as a car payment in probably 20 years.
The only bills we have are utilities and property taxes.
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people
21 Feb 2024 2:12 pm
This is incoherent crap.Majik » 21 Feb 2024, 2:39 pm » wrote: ↑ That’s up $3.4 trillion since the pandemic — almost $30,000 per household. On top of $10 trillion in new federal debt — almost $80,000 per household. In all the average American household is now carrying over $400,000 in debt. They make one-sixth that. Debt is clearly unsustainable at this point. And it’s the only thing holding up the economy.
https://choiceclips.whatfinger.com/2024 ... -trillion/
@R. Suave
Come and eat some crow .....
21 Feb 2024 2:52 pm
You ain't smart enough to understand it
21 Feb 2024 2:53 pm
All you are proving is that you have serious mental health issues ......when it comes to realistic American Financial health....
You keep claiming all is well ....and it **** isn't......for the majority of Americans .....
21 Feb 2024 7:26 pm
21 Feb 2024 7:37 pm
Now do the House of Representatives. You know, where spending originates.R.Suave » 21 Feb 2024, 2:52 pm » wrote: ↑ Under GOP administrations since 1980, spending has risen at an average annual rate of 6.35%....revenues at an annual rate of 4.17%.
Does that look sustainable to you?
21 Feb 2024 11:56 pm
No...that isn't where it originates.golfboy » 21 Feb 2024, 8:37 pm » wrote: ↑ Now do the House of Representatives. You know, where spending originates.
22 Feb 2024 9:12 am
Congratulations on that milestone and even more epic it happened 20 years ago!RedheadedStranger » 21 Feb 2024, 3:04 pm » wrote: ↑ Credit cards alone are well over a trillion... and that's unsecured debt.
I am glad to say that we owe $0 to anybody. I haven't had as much as a car payment in probably 20 years.
The only bills we have are utilities and property taxes.
It's our turn this year. Carrying some interest free debt for furniture and blinds for the new house which will be gone this year.
No matter how you slice it, the struggle is real for the majority of Americans.
14 posts • Page 1 of 1
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