The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
No, its a sign that ones personal living standards are excessive.
The news that always tells us lies, misrepresents truth and disguises opinion as fact?
It doesn't take a genius to interpret the BS you see with your own eyes if you think for yourself. Not much of your commentary has credibility. Who writes your stuff anyway?
Q: Are You Printing Money? Bernanke: Not Literally
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
No, its a sign that ones personal living standards are excessive.
I've never considered my personal standards as being excessive.
@jmski52 said: The news that always tells us lies, misrepresents truth and disguises opinion as fact?
It doesn't take a genius to interpret the BS you see with your own eyes if you think for yourself. Not much of your commentary has credibility. Who writes your stuff anyway?
Exactly. Hotels full. Airports full. 7-11 packed with cars. Starbucks customers waiting in lines 15 people deep. Folk complaining about their steak from Outback. Lifted pickups abound while other cars have their wheels at 45 degree angles. Highways packed with cars. Cranes dominating skylines in most every city. Amazon packages on every doorstep
That's what I see. I write my own BS. I dont regurgitate others' BS.
Maybe blitz is right, you should turn your eyes from the "news", get out from your bunker, and see the glory that be the USA.
Exactly. Hotels full. Airports full. 7-11 packed with cars. Starbucks customers waiting in lines 15 people deep. Folk complaining about their steak from Outback. Lifted pickups abound while other cars have their wheels at 45 degree angles. Highways packed with cars. Cranes dominating skylines in most every city. Amazon packages on every doorstep
That's what I see. I write my own BS. I dont regurgitate others' BS.
You have always been the best contrarian indicator.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
Good grief, now you're going back in time by 40 to 50 years. That's about the last time there was a "one bread winner" supporting a family. The economy as a whole has been booming most of that time.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
Good grief, now you're going back in time by 40 to 50 years. That's about the last time there was a "one bread winner" supporting a family. The economy as a whole has been booming most of that time.
How dare women demand a higher education and a career!!! Dont they know their place is in the kitchen!! Lol
In 1970 only 7% of women had a college degree. Today it's close to 40%. Today more women attain a 4 year degree than do men. In many case, we have a 2 income households because women WANT to work, not because they need to.
@cohodk said:
In many case, we have a 2 income households because women WANT to work, not because they need to.
People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while.
When a spouse sees the neighbors suddenly living a better life (having more things) because both spouses are working, then yes the first spouse suddenly WANTS to work. And once the debt level has increased because of the second bread winner, there's no going back.
Society and household debt levels are nearing the point where the kids need to become part of the "family" work force. I'm sure the bankers lenders are working on it. LOL
All sexism aside, guess what happens to wages when there are suddenly a lot more people competing for them?
"People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while."
The above statement is so full of b.s.
Welcome to this world. People work because in our society, culture, and perhaps even in our DNA, it's been inbred since early homo sapiens walked this planet. It is a necessity for the human race to survive as an intelligent species. Some will fail, but for most, it's part of the daily routine.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
@OPA said:
"People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while."
The above statement is so full of b.s.
Welcome to this world. People work because in our society, culture, and perhaps even in our DNA, it's been inbred since early homo sapiens walked this planet. It is a necessity for the human race to survive as an intelligent species. Some will fail, but for most, it's part of the daily routine.
pretty much the same answer I got from the kid when I told him to quit picking his nose.
@OPA said:
"People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while."
The above statement is so full of b.s.
Welcome to this world. People work because in our society, culture, and perhaps even in our DNA, it's been inbred since early homo sapiens walked this planet. It is a necessity for the human race to survive as an intelligent species. Some will fail, but for most, it's part of the daily routine.
pretty much the same answer I got from the kid when I told him to quit picking his nose.
You should be proud, having known Einstein when he was a kid.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
@OPA said:
"People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while."
The above statement is so full of b.s.
Welcome to this world. People work because in our society, culture, and perhaps even in our DNA, it's been inbred since early homo sapiens walked this planet. It is a necessity for the human race to survive as an intelligent species. Some will fail, but for most, it's part of the daily routine.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
If households are in such great financial shape why do they owe $16 Trillion?
Net worth obviously does not solve their need for more money than they have on hand. Or is it possible that "net worth" is mostly their primary residence that they can't liquidate and is only good for more debt collateral. LOL
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
_Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
You truly dont understand that?_
Of course I understand the utility of a home mortgage, the one possible exception to what I said. And that utility is having a roof over your head, which is one requirement for a decent existence.
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much. Stop baiting the conversation.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
No, you are purchasing a place to live using your future earnings. The down payment is most often as little as possible.
While home buyers understand that historically (because of inflation) their primary residence will be worth more when they go to sell it, few of them understand that this investment that reaped them great profit has to be replaced with another residence that is going to reap its seller great profit. When talking about a primary residence there is no great profit; it is a zero sum game. It actually costs a homeowner more money to sell his home and buy another at the same inflated price. It costs him realtor fees to sell and higher property taxes with the new property.
You sound like a realtor trying to make a sale. LOL
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Housing affordability has been declining precipitously, so tell me how more taking on more banker debt is beneficial when you can't afford it in the first place.
Q: Are You Printing Money? Bernanke: Not Literally
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase."
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
Good grief, now you're going back in time by 40 to 50 years. That's about the last time there was a "one bread winner" supporting a family. The economy as a whole has been booming most of that time.
How dare women demand a higher education and a career!!! Dont they know their place is in the kitchen!! Lol
In 1970 only 7% of women had a college degree. Today it's close to 40%. Today more women attain a 4 year degree than do men. In many case, we have a 2 income households because women WANT to work, not because they need to.
I wrote nothing about women specifically. I wrote "parent", which is not gender specific.
My point was that some individuals have had to take on a second job to make ends meet. One person, two (or more) jobs.
Maintaining a comfortable standard of living is getting harder. And the average person has less (adjusted for inflation) to pass on to heirs than they did years ago.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
My point was that some individuals have had to take on a second job to make ends meet. One person, two (or more) jobs.
Maintaining a comfortable standard of living is getting harder. And the average person has less (adjusted for inflation) to pass on to heirs than they did years ago.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
You truly dont understand that?
If you put mortgage money in the pockets of a lot of people, they will bid up the prices of houses to the point where almost everyone will have to get a mortgage to be able to buy a house. This benefits the master banking class at the expense of the debt servant class.
I cringe when I hear politicians talking about making more money available for student loans. More money in the pockets of prospective students causes them to bid up the cost of going to college, and that makes them debt servants right out of the gate.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
Comments
No one has changed the DEFINITION of a recession. Is that another conspiracy theory?
You should try to keep up with the news cycle.
I knew it would happen.
and Koolaid causes cancer. LOL
Give Me Liberty or Give Me Debt
Your president most certainly did.
It's called a conspiracy truth.
Give Me Liberty or Give Me Debt
So does the radon in your underground bunker. Step outside and take a deep breath of fresh air. The world is a beautiful place. RGDS!
The whole worlds off its rocker, buy Gold™.
It used to be that only one parent in a family had to work.
That people have to work a second job is evidence that maintaining a standard of living is more difficult.
That is not a sign of a good economy.
It's a sign that wages are not keeping up with prices. It's also a sign that household debt will grow. Debt is the cancer in the economy.
Give Me Liberty or Give Me Debt
The more I read this thread the more confused I get. The economy's good! The economy's bad! I'm going in circles.....
I was told windmills do.
Knowledge is the enemy of fear
No big companies on that list, with the exception of Ford, which is undergoing a major business restructuring.
https://www.marketwatch.com/story/micron-technology-says-itll-make-40-billion-investment-and-create-up-to-40000-jobs-2022-08-09
Yup...burger flippers. Haha.
Knowledge is the enemy of fear
No, its a sign that ones personal living standards are excessive.
Knowledge is the enemy of fear
https://www.dallasfed.org/research/economics/2022/0802
Night school is in session. Read. Get smarter.
"Rule of thumb" and "generally identified" are not definitions.
And you should welcome recessions, as they retard excesses and provide opportunities.
Knowledge is the enemy of fear
The news that always tells us lies, misrepresents truth and disguises opinion as fact?
Knowledge is the enemy of fear
The news that always tells us lies, misrepresents truth and disguises opinion as fact?
It doesn't take a genius to interpret the BS you see with your own eyes if you think for yourself. Not much of your commentary has credibility. Who writes your stuff anyway?
I knew it would happen.
I've never considered my personal standards as being excessive.
Exactly. Hotels full. Airports full. 7-11 packed with cars. Starbucks customers waiting in lines 15 people deep. Folk complaining about their steak from Outback. Lifted pickups abound while other cars have their wheels at 45 degree angles. Highways packed with cars. Cranes dominating skylines in most every city. Amazon packages on every doorstep
That's what I see. I write my own BS. I dont regurgitate others' BS.
Maybe blitz is right, you should turn your eyes from the "news", get out from your bunker, and see the glory that be the USA.
Knowledge is the enemy of fear
You have always been the best contrarian indicator.
Economy is BOOMIN up here in Gods Country. RGDS!
The whole worlds off its rocker, buy Gold™.
.> @dcarr said:
Good grief, now you're going back in time by 40 to 50 years. That's about the last time there was a "one bread winner" supporting a family. The economy as a whole has been booming most of that time.
https://dqydj.com/household-income-by-year/
Knowledge is the enemy of fear
How dare women demand a higher education and a career!!! Dont they know their place is in the kitchen!! Lol
In 1970 only 7% of women had a college degree. Today it's close to 40%. Today more women attain a 4 year degree than do men. In many case, we have a 2 income households because women WANT to work, not because they need to.
Knowledge is the enemy of fear
People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while.
When a spouse sees the neighbors suddenly living a better life (having more things) because both spouses are working, then yes the first spouse suddenly WANTS to work. And once the debt level has increased because of the second bread winner, there's no going back.
Society and household debt levels are nearing the point where the kids need to become part of the "family" work force. I'm sure the bankers lenders are working on it. LOL
All sexism aside, guess what happens to wages when there are suddenly a lot more people competing for them?
Give Me Liberty or Give Me Debt
"People don't work because they want to, they work because they want the things (including independence) that the money can buy. Come on down to the real world once in a while."
The above statement is so full of b.s.
Welcome to this world. People work because in our society, culture, and perhaps even in our DNA, it's been inbred since early homo sapiens walked this planet. It is a necessity for the human race to survive as an intelligent species. Some will fail, but for most, it's part of the daily routine.
pretty much the same answer I got from the kid when I told him to quit picking his nose.
Give Me Liberty or Give Me Debt
I think they are calling it transgrowth.
fka renman95, Sep 2005, 7,000 posts
You should be proud, having known Einstein when he was a kid.
Absolutely 100% correct.
Knowledge is the enemy of fear
For some strange reason, all that umbrella 🌂 salesmen seem to talk about is rain 😉
Liberty: Parent of Science & Industry
No rain here although we could certainly use some. SEMPER!!!
The whole worlds off its rocker, buy Gold™.
US household debt surpasses $16 Trillion.
Give Me Liberty or Give Me Debt
Household net worth surpasses $140 Trillion.
https://fred.stlouisfed.org/series/BOGZ1FL192090005Q
Knowledge is the enemy of fear
If households are in such great financial shape why do they owe $16 Trillion?
Net worth obviously does not solve their need for more money than they have on hand. Or is it possible that "net worth" is mostly their primary residence that they can't liquidate and is only good for more debt collateral. LOL
Give Me Liberty or Give Me Debt
Because they are smart and understand the leverage and utility that debt affords.
Knowledge is the enemy of fear
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
Knowledge is the enemy of fear
smart enough to pay double digit credit card interest? LOL
You seem to assume that every head of household is a financial advisor. Not.
Give Me Liberty or Give Me Debt
I seriously doubt much household debt is being used to "acquire appreciating assets." More likely being used for consumables that are gone tomorrow.
Give Me Liberty or Give Me Debt
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
https://www.newyorkfed.org/newsevents/news/research/2022/20220510
Knowledge is the enemy of fear
Credit card debt is only about 6% of household debt.
Knowledge is the enemy of fear
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
I knew it would happen.
Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
You truly dont understand that?
Knowledge is the enemy of fear
In the NY Fed link I posted, can anyone tell me what percentage of household debt is HELOC debt?
Knowledge is the enemy of fear
_Lol...what do you think taking on a mortgage to buy a house is?
You are leveraging your down payment to buy an asset that appreciates.
You truly dont understand that?_
Of course I understand the utility of a home mortgage, the one possible exception to what I said. And that utility is having a roof over your head, which is one requirement for a decent existence.
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much. Stop baiting the conversation.
I knew it would happen.
No, you are purchasing a place to live using your future earnings. The down payment is most often as little as possible.
While home buyers understand that historically (because of inflation) their primary residence will be worth more when they go to sell it, few of them understand that this investment that reaped them great profit has to be replaced with another residence that is going to reap its seller great profit. When talking about a primary residence there is no great profit; it is a zero sum game. It actually costs a homeowner more money to sell his home and buy another at the same inflated price. It costs him realtor fees to sell and higher property taxes with the new property.
You sound like a realtor trying to make a sale. LOL
Give Me Liberty or Give Me Debt
Amazing what happens when FACTS get added into the conversation. The conspiracy gets schooled again. RGDS!
The whole worlds off its rocker, buy Gold™.
Housing affordability has been declining precipitously, so tell me how more taking on more banker debt is beneficial when you can't afford it in the first place.
I knew it would happen.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase."
Give Me Liberty or Give Me Debt
I wrote nothing about women specifically. I wrote "parent", which is not gender specific.
My point was that some individuals have had to take on a second job to make ends meet. One person, two (or more) jobs.
Maintaining a comfortable standard of living is getting harder. And the average person has less (adjusted for inflation) to pass on to heirs than they did years ago.
If you have debt, you must service that debt.
Thus, you are a servant.
Careful, sounds like a conspiracy theory.
Give Me Liberty or Give Me Debt
If you put mortgage money in the pockets of a lot of people, they will bid up the prices of houses to the point where almost everyone will have to get a mortgage to be able to buy a house. This benefits the master banking class at the expense of the debt servant class.
I cringe when I hear politicians talking about making more money available for student loans. More money in the pockets of prospective students causes them to bid up the cost of going to college, and that makes them debt servants right out of the gate.
.
Oh no!!! Lol
Knowledge is the enemy of fear