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Americans piling on credit card debt, despite recession warnings...
#1
Credit card debt usually increases around the holiday shopping season — not in the middle of July.


One analyst’s estimate this week that “real” debt could be nearly 2000 percent of GDP attracted plenty of attention, but analysts who study consumer spending habits say there’s a real debt risk much closer to home: The amount and pace at which American consumers are racking up credit card debt.

“As far as American's finances are concerned, the current situation is not too encouraging,” said Jill Gonzalez, senior analyst at personal finance platform WalletHub. “We started the year owing more than $1 trillion in credit card debt, and although we paid off a large chunk in the first quarter, that could be a sign that more debt will be taken on by consumers."

According to the Federal Reserve’s consumer credit tracker, revolving credit — a category in which credit card debt predominates — increased at an annualized rate of 11.25 percent in July, the most recent month for which data is available.

“In terms of revolving debt, we see spikes like this every so often, but they don’t jump by double digits all that much,” said Matt Schulz, chief industry analyst at CompareCards. Typically, big jumps occur around the holidays, though — not in July.


https://www.nbcnews.com/business/consume...s-n1052041
Many things happen in life that teach you to become stronger, wiser, gentler. Life is a good teacher.
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#2
The MSM is trying to create the fear and the illusion of recession so people won't vote Trump. The economy is better than it's been in decades
Getting off the beaten path puts your soul back on track
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#3
(09-10-2019, 07:31 PM)FlyoverCountry Wrote: The MSM is trying to create the fear and the illusion of recession so people won't vote Trump.  The economy is better than it's been in decades

Where I live, everybody and I do mean everybody is looking for help. Every store you go into has a help wanted sign. We are in a bidding war with every other employers in our area. Recession is total BS in our area.
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#4
(09-10-2019, 09:26 PM)WNC Wrote:
(09-10-2019, 07:31 PM)FlyoverCountry Wrote: The MSM is trying to create the fear and the illusion of recession so people won't vote Trump.  The economy is better than it's been in decades

Where I live, everybody and I do mean everybody is looking for help. Every store you go into has a help wanted sign. We are in a bidding war with every other employer in our area. Recession is total BS in our area.

The unions are running ads on the radio looking for people to fill real good jobs. Heard two for different IBEW today and one was ours
Getting off the beaten path puts your soul back on track
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#5
22 Trillion Dollars In DEBT, F#CK IT, Go out in Style!
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#6
(09-10-2019, 09:29 PM)FlyoverCountry Wrote:
(09-10-2019, 09:26 PM)WNC Wrote:
(09-10-2019, 07:31 PM)FlyoverCountry Wrote: The MSM is trying to create the fear and the illusion of recession so people won't vote Trump.  The economy is better than it's been in decades

Where I live, everybody and I do mean everybody is looking for help. Every store you go into has a help wanted sign. We are in a bidding war with every other employer in our area. Recession is total BS in our area.

The unions are running ads on the radio looking for people to fill real good jobs.   Heard two for different IBEW today and one was ours

We are looking for people all the time, the only people left to hire around here are damned near worthless. Oh yeah, we are headed for a recession. Facepalm
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#7
(09-10-2019, 07:31 PM)FlyoverCountry Wrote: The MSM is trying to create the fear and the illusion of recession so people won't vote Trump.  The economy is better than it's been in decades

The Demoncrats and the MSM are trying to crowbar Trump into losing the 2020 election.

For all of the venom and vitriol, there must be a lot of Globalist money in danger, if Trump is re-elected.

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"It’s Easier to Fool People Than to Convince Them That They Have Been Fooled."
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#8
CC interest rates are usery.

They should be capped at 15% and only as a max penalty rate. Otherwise 12% max.

It's a bullshit slave trap.
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#9
Many of them do it knowing full well at the time they are never going to pay it.

I never understood how folks get away with this, but they do.

I don't use the stuff personally.
Heartflowers
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#10
(09-10-2019, 07:31 PM)FlyoverCountry Wrote: The MSM is trying to create the fear and the illusion of recession so people won't vote Trump.  The economy is better than it's been in decades

That doesn't mean that it is healthy for the economy to live on credit. I remember the days when credit cards first came in and even then people in the UK knew that Americans lived on credit. If a person has to live on credit it means that they are insolvent and spending more than they earn. When my mother got a credit card it was for emergencies only, and she would pay it off completely each month. I too had a credit card for emergencies especially for when travelling abroad, just in case.

I can understand people using a credit card to survive when they cannot afford to live, yet, it only delays the inevitable of having to change one's life if and when one has the health to do so.
Liberate the power of love within and it is so powerful, it is a key to life.  It requires those that have already liberated their love to help others to do so.
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