K D Posted August 21 Share Posted August 21 6 minutes ago, The Frankish Reich said: Did you read the part about credit card debt? Borrowing costs in general? Because in general, the better off you are, the less debt you have. I'm fortunate. I've worked hard and steadily for a long time. I was able to save money for retirement. I don't have any debt. I am able to invest basically risk-free at about a 5% interest rate now. Rates go down, all of a sudden I'm not doing so well. Interest rate cuts will probably hurt me. But they will probably help a younger version of me, financing a car, upgrading to a better home thanks to a lower interest rate, lowering my monthly payments on the credit card debt I'm trying to get rid of, etc. Lol uhh what? Have you been listening to Dave Ramsey? Debt is how you get rich. You use other people's money to leverage. The richest people have by far the most debt. Elon Musk probably has more debt than entire countries. 1 Link to comment Share on other sites More sharing options...
The Frankish Reich Posted August 21 Share Posted August 21 5 minutes ago, K D said: Lol uhh what? Have you been listening to Dave Ramsey? Debt is how you get rich. You use other people's money to leverage. The richest people have by far the most debt. Elon Musk probably has more debt than entire countries. I'm talking about ordinary working people. Total debt as a percentage of income/assets. And yes, it does decrease with wealth, because that's kind of the definition of wealth. Link to comment Share on other sites More sharing options...
Tommy Callahan Posted August 21 Share Posted August 21 If the economy was even close to strong. There would be no talk of three rate cuts. Link to comment Share on other sites More sharing options...
RiotAct Posted August 21 Share Posted August 21 1 hour ago, ScotSHO said: 818,000. That's a lot of oopsies. Sorry, eh as the Canucks would say. it’s just transitory, I’m sure. 3 Link to comment Share on other sites More sharing options...
Tommy Callahan Posted August 21 Share Posted August 21 Link to comment Share on other sites More sharing options...
K D Posted August 21 Share Posted August 21 1 hour ago, The Frankish Reich said: I'm talking about ordinary working people. Total debt as a percentage of income/assets. And yes, it does decrease with wealth, because that's kind of the definition of wealth. If you acknowledge that many rich people may have literally millions in debt then who do you think benefits most with lower rates? Some derpy doo with $1,000 in credit card debt or someone like Bill Gates who likely has billions in debt that he can refinance? Your point was that it more favorably benefits normal people and that's absolutely false. Rich people have a better debt to income ratio sure but that's not what we are talking about. Rich people about to get richer in Sept 2 Link to comment Share on other sites More sharing options...
aristocrat Posted August 21 Share Posted August 21 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 21 Author Share Posted August 21 37 minutes ago, aristocrat said: Vote for the people that crashed this economy to fix it! I suppose this is me cheering this on. I should just lie like the regime has been. 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 21 Author Share Posted August 21 Democrats lie about everything. 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 21 Author Share Posted August 21 Link to comment Share on other sites More sharing options...
Unforgiven Posted August 21 Share Posted August 21 Angry lying mr magoo 1 2 Link to comment Share on other sites More sharing options...
Big Blitz Posted August 21 Author Share Posted August 21 They are beyond gone 1 2 Link to comment Share on other sites More sharing options...
B-Man Posted August 21 Share Posted August 21 1 Link to comment Share on other sites More sharing options...
Tommy Callahan Posted August 21 Share Posted August 21 1 1 Link to comment Share on other sites More sharing options...
RiotAct Posted August 21 Share Posted August 21 1 hour ago, Big Blitz said: They are beyond gone oh my gob. 1 1 Link to comment Share on other sites More sharing options...
Doc Posted August 21 Share Posted August 21 30 minutes ago, Tommy Callahan said: The perfect employee for this corrupt and inept Admin. Simply amazing. She should be promoted anyday now... 2 1 Link to comment Share on other sites More sharing options...
ChiGoose Posted August 22 Share Posted August 22 1 Link to comment Share on other sites More sharing options...
OrangeBills Posted August 22 Share Posted August 22 9 hours ago, Tommy Callahan said: But trust the ones that provided this data. And revise it every month. And parrot it as a sign of a strong economy. It's all lies, smoke and mirrors with this disaster of an administration These are the payroll numbers, not the HH survey, but if applied, then the UE rate would be MUCH higher, around 5.8%, HUGE contraction, terrible economy. If you assume about 40% overlap, meaning 60% fewer jobs, then the UE rate would be 5.6%, also really big/bad jump Both are Recessionary. So AMERICANS are in Recession, but.....Democrats need to be elected. 1 Link to comment Share on other sites More sharing options...
Orlando Buffalo Posted August 22 Share Posted August 22 9 hours ago, K D said: Lol uhh what? Have you been listening to Dave Ramsey? Debt is how you get rich. You use other people's money to leverage. The richest people have by far the most debt. Elon Musk probably has more debt than entire countries. You must think that declaring bankruptcy is a sign of being loaded also. 3 hours ago, Unforgiven said: Angry lying mr magoo I want to know where the balance is to the Orlando area, where has inflation been mild to contract my area? Rents are almost double for same size, food is at least 50% and eating out is almost that much more. Where is rent less than a 20% increase? 1 Link to comment Share on other sites More sharing options...
Unforgiven Posted August 22 Share Posted August 22 The good news is, if we go into a depression at least we will have the government to tell us we're not in a depression and no, people aren't really starving or dying. 1 Link to comment Share on other sites More sharing options...
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