There's that lie again.
Posted on 11/28/2011 4:55:23 PM PST by Nachum
Today the NY Fed released its quarterly report on consumer credit, and in it is a wealth of charts on the nature of consumer debt. The charts did contain a red flag: For the first time since the recovery began, there were clear signs that in Q3, consumers started falling behind on paying their debts following several quarter of improvement. It's not across all categories, and it's not necessarily even dramatic in some cases, but it is notable for the reversal in the pattern.
(Excerpt) Read more at businessinsider.com ...
We need Congress to act to put a cap on consumer interest rates.
Yeah, has something to do with supply (of money in his pocket) and demand (can't buy anything).
What debt?
Propaganda crap.
It’s always the fault of the ‘consumer’,not the bankers, Obama and his crony wall streeters, and the wild spending Democrats...
Not sure if there is a /s after that.
If not, and your serious..
They signed up to play the game. Read the contracts before signing up.
No big deal, just bail all those out, like they bailed out the fatcorps, banksters and Wall Street.
No problem.
“31% interest rates can do that to you.”
The credit card companies are going to kill the goose that laid the golden egg. I haven’t used a credit card in years and I hear more and more people say they’re going to pay them off and go to using a debit card.
And it will serve them right that the market drove them under as they blindly drove consumers under.
Did anybody in current administration stop and think about what that might do to consumer psychology? Maybe they just threw up their hands and said the heck with it, if the government can do it, so can I. Maybe they began to think it's hopeless so why bust their behinds when it doesn't matter anymore?
Sheer genius, that Bamster. What would we do without him.
Same here. I’m about as debt free as a man can be in the modern world.
Mrs. Hugin is a retail manager in an affluent area. The vast majority of her sales used to be on credit cards, now a majority are using cash. Plus she gets 2-3 rejected cards a day, where she used to get a couple a week. Just anecdotal of course, but somethings going on.
Something Is Going Wrong With The Consumer
Yeah, has something to do with supply (of money in his pocket) and demand (can’t buy anything).
The long nose of the law in the consumers business and products and the long arm of the law in their pockets taking the money.
Then there's this Visa Card scam Pelosi is associated with and Joe Biden's homestate, Delaware, is the home of high ticket credit card operations.
The fix was in.
Time to undo the fix.
I’ll bet that 99% of that Black Friday money spent was using credit cards.
I use a credit card for convenience, but I pay it off at the end of the month.
Thats what I need
LLS
There's that lie again.
I see your point. But my payments were easy to make then 0bama decided that my industry needed some regulation.
Now my income is down 40% and those payments aren’t looking so easy to make.
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