Posted on 02/08/2015 7:24:51 AM PST by Red in Blue PA
B) Those that still have a job have, on average, seen wage deflation.
C) Everybody, whether they have a job or not, already has clothes, a flatscreen television, a cell phone, a car (built to last ten or fifteen years now), and already got burned on buying a house.
D) People see no hope of a better future. They see an empire in decline, and you prep and hoard when the lights of civilization are being snuffed out.
E) There is still a big demand for food. It's cost continues to rise and sucks away dollars that would otherwise be used to buy a new pair of shoes.
F) obamneycare is sucking the life out of the economy and draining everyone's wallets. The increase in premiums amounts to basically a car payment. I listed it as F because it earns a big fat "F".
It's the right thing to do - getting all those wealth hoarders to give back to their communities and stop interfering with the Progressive Agenda. /s
Let he who has not upgraded his cellphone, bought a bigscreen, laptop, or i-anything cast the first stone.
The evil bastards in DC know how to force consumer spending. Create high inflation.
Every day consumers will have to decide whether to replace a mattress, auto or refrigerator today — or wait until the prices have gone up.
The American consumer has been exploited enough thank you.
When they start trotting out this old canard, you KNOW the chit is about to hit the fan!
Good luck with that. Go into the retail stores. There is hardly anybody there. Go into a restaurant. Half empty. Nobody has any money.
‘Based on an analysis of Federal Reserve statistics and other government data, the average household owes $7,283 on their cards; looking only at indebted households, the average outstanding balance rises to $15,611. Here are statistics, trends, studies and methodology behind the average U.S. household debt...’
http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/
In total, American consumers owe:
$11.74 trillion in debt
An increase of 3.3% from last year
$882.6 billion in credit card debt
$8.14 trillion in mortgages
$1.13 trillion in student loans
An increase of 8% from last year
I’m not included in the above, but I’m not ‘normal,’ thanks to Dave Ramsey. :)
These are staggering amounts of debt. Everyone with debt depends on having the jobs and income to repay these obligations.
I wonder if the student loan bubble will burst. Too many college graduates, earning low pay, may not be able to handle these long term.
Student loan debt can perhaps be justified, if you get a degree in a field in which you qualify for a good paying career.
But can’t believe how many college kids take out huge loans, get degrees in fields which don’t lead to good paying jobs, and end up behind in payments.
I think Obama would love to forgive these student loans.
Oh, no doubt Student Loan forgiveness is in the pipeline! How else to get the young heads-full-of-mush to vote for Dems?
It’s maddening living a good, solid financial life to see others get away with basically MURDER when it comes to our economy.
But, as for me and my house...we’re WAY ahead of the curve. :)
(How can people spend what they don’t have?)
.
Americans have been doing that for years and so has Government.
Americans use credit cards and go a-hole deep in debt.
Government prints money and goes a-hole deep in debt.
The problem is that we need a taxation system that encourages savings and capital formation staying in the USA. Only Steve Forbes' flat tax proposal and the FairTax proposal does that, so far.
According to Nanny Peloonie all those unemployment checks were going to save the economy. I guess the big hole in her asininity was all of the Americans falling off the unemployment rolls because they never were able to find work.
You said...
“obamneycare is sucking the life out of the economy and draining everyone’s wallets. The increase in premiums amounts to basically a car payment. I listed it as F because it earns a big fat “F”.”
But, but, but we can add that to GDP
The crony capitalists need to buy more instead of buying their own stock at the Ponzy Market. I sell capital equipment to manufacturing and noticed that when the stock market started going down our sales went up.
people don’t buy a whole lot of stuff when they’re out of work or in fear of becoming unemployed
all the rest is fluff
No cell phone. No upgrade needed.
No problem.
(call me on the damn land line, or fagidabudit)
Another idiotic comment. Some people are born stupid and never recover.
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