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Is this the best economy we ever had?

Spamature

President
Eh, Joey is the President Of The United States
those cities are in states
So the increase in homelessness under Trump in cities was Trump's fault.
So were the increases fentanyl deaths in cities.
The increases in unemployment during the shutdowns were his fault.

Funny how you never mentioned any of these failures you now attribute to the POTUS when he was in office ?

Why did you knowing liefor him (according to current you) and blame Democrats during his presidency ?
 

Spamature

President
Doubt it


The things mentioned were problems that were on the rise for over a decade.

It is understandable that the previous year's inflation would raise the numbers of people having difficulty making ends meet now. But the charts show positive results.

As the graft shows household debt leveling off in 2023 after increasing since 2011.
Also the 90 day delinquencies have fallen according the the graft from the link.

Bad trending toward the better is a good thing that has not happened in a while.
 

Dawg

President
Supporting Member
So the increase in homelessness under Trump in cities was Trump's fault.
So were the increases fentanyl deaths in cities.
The increases in unemployment during the shutdowns were his fault.

Funny how you never mentioned any of these failures you now attribute to the POTUS when he was in office ?

Why did you knowing liefor him (according to current you) and blame Democrats during his presidency ?
Yes, more whataboutism is all leftist have
Learn English
"knowing" :) pitiful, did you mean knowingly
 

Dawg

President
Supporting Member
The things mentioned were problems that were on the rise for over a decade.

It is understandable that the previous year's inflation would raise the numbers of people having difficulty making ends meet now. But the charts show positive results.

As the graft shows household debt leveling off in 2023 after increasing since 2011.
Also the 90 day delinquencies have fallen according the the graft from the link.

Bad trending toward the better is a good thing that has not happened in a while.
BS
 

PhilFish

Administrator
Staff member
The things mentioned were problems that were on the rise for over a decade.

It is understandable that the previous year's inflation would raise the numbers of people having difficulty making ends meet now. But the charts show positive results.

As the graft shows household debt leveling off in 2023 after increasing since 2011.
Also the 90 day delinquencies have fallen according the the graft from the link.

Bad trending toward the better is a good thing that has not happened in a while.
It says ..

Household Debt Rises to $17.06 Trillion Led by Credit Card Balances
Total household debt rose by $16 billion to reach $17.06 trillion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit. Credit card balances saw brisk growth, rising by $45 billion to a series high of $1.03 trillion. Other balances, which include retail credit cards and other consumer loans, and auto loans increased by $15 billion and $20 billion, respectively. Student loan balances fell by $35 billion to reach $1.57 trillion, while mortgage balances were largely unchanged at $12.01 trillion.
 

Spamature

President
It says ..

Household Debt Rises to $17.06 Trillion Led by Credit Card Balances
Total household debt rose by $16 billion to reach $17.06 trillion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit. Credit card balances saw brisk growth, rising by $45 billion to a series high of $1.03 trillion. Other balances, which include retail credit cards and other consumer loans, and auto loans increased by $15 billion and $20 billion, respectively. Student loan balances fell by $35 billion to reach $1.57 trillion, while mortgage balances were largely unchanged at $12.01 trillion.
I pointed to the fact that the graph show total debt has leveled off compared to its previous rate of increase for the past decade.
1695699095929.png

Same with 90 day delinquency rates.
Graph shows all indices except one is noticeably lower than when Biden came into office.

1695699311663.png

Remember that paragraph is talking about the recent rise while ignoring the higher rises that have come before it for decades.
 

PhilFish

Administrator
Staff member
I pointed to the fact that the graph show total debt has leveled off compared to its previous rate of increase for the past decade.
View attachment 76192

Same with 90 day delinquency rates.
Graph shows all indices except one is noticeably lower than when Biden came into office.

View attachment 76193

Remember that paragraph is talking about the recent rise while ignoring the higher rises that have come before it for decades.
So? All in all debt continues to rise, fact. Households are constrained by the mountains of debt. Fact.
 

Spamature

President
So? All in all debt continues to rise, fact. Households are constrained by the mountains of debt. Fact.
Debt has been climbing for a decade before Biden got into office. Yet during his time it has leveled off that increase and 90 the day delinquencies have declined.

SO... why complain about it now when it was worse before and is getting better now ?
 

Dawg

President
Supporting Member
Debt has been climbing for a decade before Biden got into office. Yet during his time it has leveled off that increase and 90 the day delinquencies have declined.

SO... why complain about it now when it was worse before and is getting better now ?
BS
 

PhilFish

Administrator
Staff member
Debt has been climbing for a decade before Biden got into office. Yet during his time it has leveled off that increase and 90 the day delinquencies have declined.

SO... why complain about it now when it was worse before and is getting better now ?

Huh


 

Spamature

President
Huh


Yes, post pandemic inflation has strained personal finances.
Especially if people as the article says: maintain their "levels of consumption , but for many this is a personal choice. If you want eat your cake and have it too, interest is the devil you pay.


From the article on corporate bankruptcies:

“What we’re experiencing now is the fruit of the seeds planted in the 2010s,” said Ed Morrison, a professor at Columbia Law School.

After the 2008 financial crisis, borrowing money was cheap, so companies on shaky footing could stay afloat. That was exacerbated by the pandemic; interest rates fell again and relief programs bought businesses even more time.

Morrison said now, bankruptcies have piled up.

“Those failures are not harbingers of widespread economic problems in our economy,” he said.
 

Dawg

President
Supporting Member

Spamature

President
As you do and it's clear you haven't tried to buy a home this month!
Where will the 2.2 million illegals buy homes, wait, they have free Hotel rooms.
Joey is ensuring Americans go bankrupt:
Biden admin hammered by Dems, GOP alike after latest crackdown on oil production (msn.com)
I guess you need to write the Fed and tell them you have a better analysis of the market than they do.

Your article is about something that wouldn't happen until 2025.
Why do you think that is part of this conversation ?
 

PhilFish

Administrator
Staff member
Yes, post pandemic inflation has strained personal finances.
Especially if people as the article says: maintain their "levels of consumption , but for many this is a personal choice. If you want eat your cake and have it too, interest is the devil you pay.


From the article on corporate bankruptcies:

“What we’re experiencing now is the fruit of the seeds planted in the 2010s,” said Ed Morrison, a professor at Columbia Law School.

After the 2008 financial crisis, borrowing money was cheap, so companies on shaky footing could stay afloat. That was exacerbated by the pandemic; interest rates fell again and relief programs bought businesses even more time.

Morrison said now, bankruptcies have piled up.

“Those failures are not harbingers of widespread economic problems in our economy,” he said.

What we're seeing is the waning of free money. And the arrival of the time to start paying back student debt and so on.
 

Spamature

President

What we're seeing is the waning of free money. And the arrival of the time to start paying back student debt and so on.
Thank the GOP and their pals on the SCOTUS for the untimely kink in student loans.
And while you are at it you can blame them for the credit ding we took with their debt ceiling nonsense and maybe another ding with their going back on the debt ceiling agreement with this shutdown they are careening towards by midnight.
 
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