Skip to comments.Paltry credit-card debt growth signals restrained consumer
Posted on 08/03/2014 12:04:31 PM PDT by Oldeconomybuyer
WASHINGTON Jobs growth has been solid of late, and manufacturing sentiment has been strong.
But the lack of wage growth has been apparent, and one manifestation of that has been the paltry rise in credit-card debt.
The latest data on consumer credit is due out Thursday. Its likely to show non-revolving debt like auto and student debt is continuing to grow rapidly. But credit-card debt has barely budged.
Incomes are only growing so much, said Josh Shapiro, chief economist at MFR. [Consumers] are not going to go two-fisted on credit-card and auto debt.
(Excerpt) Read more at marketwatch.com ...
Um, could it be that the cards are maxed out?
Mine aren’t but there isn’t a lot of wiggle room
left on it.
2015, maybe as late as mid 2016 will begin the Hell in America's economy
and Obama's final blow before his term ends. I got that from my friends
in the commercial real estate industry.
FUJB for doing nothing.
Total credit card debt tends to decline during recessions, and this recession is no exception.
Credit card debt would be normal to above normal if people SAW A LIGHT AT THE END OF THE TUNNEL!
But they don’t. Hence the consumer restraint - which makes the Globalists nervous as hell because the only thing America produces anymore ARE Consumers...
That's been my internal projection, since 2008...
If the Democrats hold the Senate, the market will go south and what meager “green shoots” there are in the economy now will shrivel with the prospect of this ship of fools staying in charge for two more years.
Same thing is going to happen even if the Republicans get the Senate.
"We moved our base camp last night and were now positioned literally
within feet of the river. Have been sitting here watching the border
patrol patrolling in their riverboats all night and all morning..."
Job growth? I stopped reading right there
About 2/3 of the economy is consumer spending. If credit card activity and total charges are down, it sounds like overall consumer spending is down. Not much of a recovery is it.
The Fed will halt the QE money printing press within 24 hours if the GOP wins the Senate allowing Obama and his media shills to blame the stock market correction on evil republicans.
“Jobs growth has been solid of late....”
Stopped reading right there, this man doesn’t know what he’s talking about.
“But they dont. Hence the consumer restraint - which makes the Globalists nervous as hell because the only thing America produces anymore ARE Consumers...”
The globalists are quite content to deal with Asia’s billions of consumers (especially since they actually have jobs); it saves them the trouble of shipping goods. Our government is trafficking Hispanics to try to compete with Asia’s consumers (these illegals aren’t coming here for non-existent jobs).
American businesses can see the writing on the wall; many are closing, cutting staff & hours, and few new ones will open.
“Um, could it be that the cards are maxed out?
Mine arent but there isnt a lot of wiggle room
left on it.”
Years ago when my wife was on maternity leave I was late paying a credit card bill, and it was incredible how quickly the company called looking for payment (a couple of days past the due date, and daily after that for a few days until I got paid and sent the payment). I never had that happen again, and was terrified thinking how that works out for people who have lost their jobs.
I’m focused on little more than paying down debt while buying necessities; American businesses are having a hard time convincing consumers that every little thing is a necessity. The “new normal” limits our revious spending habots to government workers and the 1%; the rest of us are never going back to the “before-times”...