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Credit card debt in US hits record high

  

Category:  News & Politics

Via:  sparty-on  •  3 weeks ago  •  44 comments

By:   Emir Yildirim ( httpstwitter. comanadoluagency)

Credit card debt in US hits record high
Persistent inflation, rising interest rates spur US consumers to resort to taking out loans, say experts - Anadolu Ajans
Article is LOCKED by author/seeder
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Sparty On
Professor Principal
1  seeder  Sparty On    3 weeks ago

The fetcher is acting up but the link works if you want to read it.

 
 
 
Sparty On
Professor Principal
2  seeder  Sparty On    3 weeks ago

Hooray Bidenomics!

 
 
 
Vic Eldred
Professor Principal
3  Vic Eldred    3 weeks ago

Buying food via credit cards is part of the Biden economy.

 
 
 
Sparty On
Professor Principal
3.1  seeder  Sparty On  replied to  Vic Eldred @3    3 weeks ago

Or a SNAP card.

 
 
 
Jeremy Retired in NC
Professor Expert
3.1.1  Jeremy Retired in NC  replied to  Sparty On @3.1    3 weeks ago

If you claim you're an illegal you will get more SNAP benefits than if you claim you're a citizen.

 
 
 
Texan1211
Professor Principal
3.1.2  Texan1211  replied to  Jeremy Retired in NC @3.1.1    3 weeks ago

Hopefully that happens only in Democratic sanctuaries.

 
 
 
Jeremy Retired in NC
Professor Expert
3.1.3  Jeremy Retired in NC  replied to  Texan1211 @3.1.2    3 weeks ago

It shouldn't even be happening there but yet, here we are.

 
 
 
Sparty On
Professor Principal
3.1.4  seeder  Sparty On  replied to  Jeremy Retired in NC @3.1.1    3 weeks ago

Yep pretty sad.    Even worse is that many of the folks getting screwed by that reality are still supporting the people screwing them.

Amazing

 
 
 
Jeremy Retired in NC
Professor Expert
3.1.5  Jeremy Retired in NC  replied to  Sparty On @3.1.4    3 weeks ago

It's far beyond pathetic.  And they don't even realize where the problem is.  They just keep drinking the Kool-aid.

 
 
 
Krishna
Professor Expert
4  Krishna    3 weeks ago

Persistent inflation, rising interest rates spur US consumers to resort to taking out loans, say experts 

OMG-- that's terrible! 

(Totally unprecedented in our entire history! jrSmiley_30_smiley_image.gif )

 
 
 
Texan1211
Professor Principal
4.1  Texan1211  replied to  Krishna @4    3 weeks ago

Point made, point totally missed.

 
 
 
SteevieGee
Professor Silent
5  SteevieGee    3 weeks ago

I pay mine off every month.  It's usually about 1500 or so.  0 mortgage, 0 car payments, 0 debt.  Life is good.

 
 
 
JBB
Professor Principal
6  JBB    3 weeks ago

Where was this sourced? Turkey? 

 
 
 
Texan1211
Professor Principal
6.1  Texan1211  replied to  JBB @6    3 weeks ago

Perhaps you can click on the link?

Household Debt and Credit Report from the Federal Reserve Bank of New York.

 
 
 
Sparty On
Professor Principal
6.2  seeder  Sparty On  replied to  JBB @6    3 weeks ago

Well, it certainly wasn’t sourced in a “Resist” boiler room that’s for sure.

 
 
 
JBB
Professor Principal
6.2.1  JBB  replied to  Sparty On @6.2    3 weeks ago

No, this is Tokyo Rose level anti-American propaganda, from Turkey! Americans hit new credit card records every year, except when we are in another gop recession! Americans spending more is a sign of Consumer Confidence and of our growing economy, not of hard bad times...

 
 
 
Sparty On
Professor Principal
6.2.2  seeder  Sparty On  replied to  JBB @6.2.1    3 weeks ago

lol ….yeah, data coming from the Federal Reserve Bank is like Tokyo Rose propaganda.

Hilarious!

 
 
 
JBB
Professor Principal
6.2.3  JBB  replied to  Sparty On @6.2.2    3 weeks ago

I said what I meant, and I was correct...

 
 
 
Sparty On
Professor Principal
6.2.4  seeder  Sparty On  replied to  JBB @6.2.3    3 weeks ago

Yes you did and no you are not.    Not even close actually.

 
 
 
Texan1211
Professor Principal
6.2.5  Texan1211  replied to  Sparty On @6.2.2    3 weeks ago
lol ….yeah, data coming from the Federal Reserve Bank is like Tokyo Rose propaganda. Hilarious!

Is it me, or is it ironic that someone would bitch about a source that comes from his own government?

 
 
 
Texan1211
Professor Principal
6.2.6  Texan1211  replied to  JBB @6.2.3    3 weeks ago
I was correct...

Sadly, no, you failed.

 
 
 
Sparty On
Professor Principal
6.2.7  seeder  Sparty On  replied to  Texan1211 @6.2.5    3 weeks ago

It is not you ….. not remotely 

 
 
 
JBB
Professor Principal
6.2.8  JBB  replied to  Sparty On @6.2.4    3 weeks ago

Then explain this...

See Bush's Recession and Covid?original

 
 
 
Texan1211
Professor Principal
6.2.9  Texan1211  replied to  JBB @6.2.8    3 weeks ago

And yet---despite the cheerleading for Bidenomics, people are having to borrow more today to survive.

Seems if the economy was as great as touted by Bidenistas, we would all be better off.

 
 
 
Jeremy Retired in NC
Professor Expert
6.2.10  Jeremy Retired in NC  replied to  JBB @6.2.1    3 weeks ago

That is a longwinded way to say that you can't dispute a single thing in the article.  

 
 
 
Texan1211
Professor Principal
6.2.11  Texan1211  replied to  Sparty On @6.2.7    3 weeks ago
It is not you ….. not remotely 

I am now waiting on a Bidenista to explain why we had the largest deficit in a non-pandemic year in history when Bidenomics is making us all rich.

I am also waiting on people to pay their college loans back instead of sticking taxpayers with the massive bills.

 
 
 
Just Jim NC TttH
Professor Principal
6.2.12  Just Jim NC TttH  replied to  Texan1211 @6.2.9    3 weeks ago
people are having to borrow more today to survive.

Evidently a concept lost on a lot of people.

 
 
 
Sparty On
Professor Principal
6.2.13  seeder  Sparty On  replied to  JBB @6.2.8    3 weeks ago

lol Bush’s recession?    It was Bush’s recession but this isn’t Biden’s record credit card debt?    One wonders if you are really serious or just playing the normal silly NTer mafia games.

And the key words here are “record credit card debt.”     Higher than “Bush’s” recession and COVID.    You do comprehend that from the chart you linked, right?

 
 
 
JBB
Professor Principal
6.2.14  JBB  replied to  Sparty On @6.2.13    3 weeks ago

That is opposite what the graph shows...

 
 
 
Sparty On
Professor Principal
6.2.15  seeder  Sparty On  replied to  JBB @6.2.14    3 weeks ago
That is opposite what the graph shows...

Alrighty then …… thank God you aren’t an Engineer.

 
 
 
Texan1211
Professor Principal
6.2.16  Texan1211  replied to  JBB @6.2.14    3 weeks ago

Your graph clearly shows cc debt under record highs under Traitor Joe.

I don't think there exists enough spin in the world to change the facts. And no, that isn't a challenge.

Heck if the US government had to borrow a Trillion just to get through the year in what you call a GREAT ECONOMY, why wouldn't it hold true for taxpayers, too!

 
 
 
JBB
Professor Principal
6.2.17  JBB  replied to  Texan1211 @6.2.16    3 weeks ago

My chart proves that the only times credit card debt declined was in very bad times...

Unlike Now!

It is bad for the economy if we spend less!

 
 
 
Texan1211
Professor Principal
6.2.18  Texan1211  replied to  JBB @6.2.17    3 weeks ago

I am not going to educate you on the perils of holding too much debt.

You could look at the US Government for a clue on it.

 
 
 
Sparty On
Professor Principal
6.2.19  seeder  Sparty On  replied to  JBB @6.2.17    3 weeks ago

So your supposition is that record debt is good?

 
 
 
JBB
Professor Principal
6.2.20  JBB  replied to  Sparty On @6.2.19    3 weeks ago

Was growth credit card debt so bad when it reached new records every year of the Trump administration, until Covid-19?

 
 
 
Sparty On
Professor Principal
6.2.21  seeder  Sparty On  replied to  JBB @6.2.20    3 weeks ago

Answer my question and I’ll be glad to answer yours

 
 
 
Texan1211
Professor Principal
6.2.22  Texan1211  replied to  JBB @6.2.20    3 weeks ago

yes.

Now, why won't you admit that record high debts are bad?

Do you think the record US Government debt is fantastic because you claim the economy is now good?

 
 
 
Just Jim NC TttH
Professor Principal
7  Just Jim NC TttH    3 weeks ago

Paid my cards off with a home equity loan last year.

 
 
 
Jeremy Retired in NC
Professor Expert
8  Jeremy Retired in NC    3 weeks ago

Maybe we need "Credit Card and Loan Debt Forgiveness" to pay off the credit cards and loans people have to rely on because of Bidenomics.

 
 
 
Texan1211
Professor Principal
8.1  Texan1211  replied to  Jeremy Retired in NC @8    3 weeks ago

Yeah, the very same fucked up "logic" can be applied.

 
 
 
Sparty On
Professor Principal
8.2  seeder  Sparty On  replied to  Jeremy Retired in NC @8    3 weeks ago

Damn it, don’t give goober and his Bidenettes any ideas …. jrSmiley_10_smiley_image.gif

 
 
 
Jeremy Retired in NC
Professor Expert
8.2.1  Jeremy Retired in NC  replied to  Sparty On @8.2    3 weeks ago

Oh, if they do that, I'm going on a Democrat level spending spree.  But then again, with they way they let criminals go with no repercussions, we could walk into any store and do a snatch and run this afternoon.  If arrested I'll talk jibberish claiming I'm "seeking asylum" and they'll give me transportation to where ever I want to go and SNAP benefits.

 
 
 
Sparty On
Professor Principal
9  seeder  Sparty On    3 weeks ago

A large portion of the people being forced to do this are the poor.    The folks Biden says he is fighting for.    Wakey wakey people.    Bidenomics is killing you.

 
 
 
Buzz of the Orient
Professor Expert
10  Buzz of the Orient    3 weeks ago

My father's philosophy was, and how he lived his life, If you don't have the cash in your pocket, you can't afford it.  He ended up being a very financially successful man.  When I came to China I had only an Amex card that I used primarily for travel, such as making hotel reservations, etc, and I paid it up on every due date.  I eventually allowed it to expire because we no longer travel so I don't need it and I live with my father's philosophy - not a single concern about debt.  Actually, my Amex card expired with them owing ME a bit of money, but not worth the effort to seek it.    

 
 

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