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Posted: 8/6/2022 3:08:19 PM EDT
[#1]
Quote HistoryLooks like people are using credit with ever increasing rates to maintain their lifestyle as inflation eats away the buying power of their wages . |
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Posted: 8/6/2022 9:40:54 PM EDT
[#2]
Going into a recession with guaranteed layoffs and rising interest rates, this looks like a recipe for disaster:
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Posted: 8/6/2022 9:45:29 PM EDT
[#3]
Quote HistoryQuoted: Going into a recession with guaranteed layoffs and rising interest rates, this looks like a recipe for disaster: https://fred.stlouisfed.org/graph/fredgraph.png?g=SxQG In my opinion, this economic and social collapse is being intentionally manufactured in order to bring about the Great Reset. |
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Posted: 8/8/2022 12:55:51 AM EDT
[#4]
Quote HistoryQuoted: In my opinion, this economic and social collapse is being intentionally manufactured in order to bring about the Great Reset. |
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Posted: 8/8/2022 6:37:07 AM EDT
[#5]
would'nt a HELOC affect your credit score as your available credit has gone up even if you arent using it?
quick ETA, in 08 i thought i was going to lose my job and took out a 100K HELOC just in case as a backup, it expired after 10 years and i never used it |
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Posted: 8/26/2022 8:51:20 AM EDT
[#6]
Updated this week. Personal savings rate (line 35) unchanged from last month:
https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri=1&1921=survey&1903=76#reqid=19&step=3&isuri=1&1921=survey&1903=76 Credit defaults climbing but still historically low. https://fred.stlouisfed.org/series/DRCCLACBS |
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Posted: 8/26/2022 9:35:29 AM EDT
[#7]
No surprise, many many people live paycheck to paycheck.
When inflation goes way up, they are left with more bills than paycheck and max out cards instead of cutting expenditures to the bone Happens every time, just before the economy takes a dump. |
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Posted: 8/26/2022 9:41:11 AM EDT
[#8]
Quote HistoryQuoted: In my opinion, this economic and social collapse is being intentionally manufactured in order to bring about the Great Reset. Quote HistoryQuoted: Quoted: Going into a recession with guaranteed layoffs and rising interest rates, this looks like a recipe for disaster: https://fred.stlouisfed.org/graph/fredgraph.png?g=SxQG In my opinion, this economic and social collapse is being intentionally manufactured in order to bring about the Great Reset. I completely agree. It is obvious as hell |
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Posted: 8/26/2022 11:05:27 AM EDT
[#9]
Quote HistoryQuoted: I completely agree. It is obvious as hell When people say the government is doing stupid things they're wrong. The government is run by highly intelligent deceitful snakes. |
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Posted: 8/26/2022 11:11:58 AM EDT
[#10]
Quote HistoryQuoted: No surprise, many many people live paycheck to paycheck. When inflation goes way up, they are left with more bills than paycheck and max out cards instead of cutting expenditures to the bone Happens every time, just before the economy takes a dump. The only inflation protection I know of is being productive while remaining solvent by living within my means. |
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Posted: 10/1/2022 9:44:04 AM EDT
[#11]
Quote HistoryQuoted: Updated this week. Personal savings rate (line 35) unchanged from last month: https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri=1&1921=survey&1903=76#reqid=19&step=3&isuri=1&1921=survey&1903=76 So... interesting. The updated chart was released yesterday. Note how I said the personal savings rate didn't change for June and July. After being "seasonally revised" the June savings rate was decreased to 3.0% from 3.5%. |
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Posted: 10/9/2022 9:44:26 PM EDT
[#12]
Quote HistoryQuoted: Looks like people are using credit with ever increasing rates to maintain their lifestyle as inflation eats away the buying power of their wages . Quote HistoryQuoted: Looks like people are using credit with ever increasing rates to maintain their lifestyle as inflation eats away the buying power of their wages . That continued through August. Yikes. |
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Posted: 10/10/2022 6:38:52 AM EDT
[#13]
Quote HistoryQuoted: So... interesting. The updated chart was released yesterday. Note how I said the personal savings rate didn't change for June and July. After being "seasonally revised" the June savings rate was decreased to 3.0% from 3.5%. There's probably some "buy it now as it will just cost more tomorrow" stuff going on also. Inflation is eating away at savings. |
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Posted: 10/12/2022 3:40:35 PM EDT
[#14]
Quote HistoryQuoted: There's probably some "buy it now as it will just cost more tomorrow" stuff going on also. Inflation is eating away at savings. There is, and I'm included.  I've been stocking up on food, tools, as well as non perishable household goods. |
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Posted: 10/12/2022 3:59:52 PM EDT
[#15]
Quote HistoryQuoted: I built two homes, total worth seven figures, and I will never carry one cent of debt on them. I operate my business and my life from the position of 100% solvency. It renders me impervious to the corrupt debt driven Creditist economy.  |
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Posted: 10/12/2022 6:56:17 PM EDT
[#16]
Quote HistoryQuoted: For some people this makes sense, but for others with a low interest mortgage and bought before the vivid surge it may not make sense to pay off the house. My wife and I have enough cash to pay off our mortgage. We have decided to keep the cash in the event of a lay off or other event given this economy. Our interest rate is 2.7% and our P&I payment is $800 per month. Our mortgage will be paid off in 12 years prior to either one of us retiring. More power to you if you found a way to make debt work for you. I simply described "the road less travelled" I took because "it made all the difference" for me.  I have never worried about having enough money, and I never will. |
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Posted: 10/13/2022 8:50:06 PM EDT
[#17]
Boomer doomers are the loudest voices.
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Posted: 10/14/2022 11:16:54 AM EDT
[#18]
Quote HistoryQuoted: Boomer doomers are the loudest voices. I'm not a doomer for my own life, because I found a way to live a good life in an evil world just as it is right now. All the doom is reserved for insolvent unproductive failures who became that way because they don't govern themselves.  |
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Posted: 10/15/2022 11:41:18 AM EDT
[#19]
 The Coming 50% Stock Market Crash & Great Depression Can't Be Stopped By The FED (Shocking Details) |
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Posted: 10/15/2022 11:44:12 AM EDT
[#20]
Quote HistoryQuoted: I'm not a doomer  |
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Posted: 10/15/2022 12:44:33 PM EDT
[#21]
Quote HistoryQuoted: Doom is entertainment for me because I'm immune from it by governing my own life. "Whoever FAILS to govern themselves WILL be governed by others." --tooter |
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Posted: 10/15/2022 1:06:53 PM EDT
[#22]
Quote HistoryQuoted: I don't know a single person who has not taken out a HELOC. Regardless whether they used it or not, I'm sure that is considered in the consumer credit report. You would be stupid not to take one out with the inflated home prices just to have the extra line of credit. Maybe I'm wrong because I'm not really sure how to read their numbers, but a HELOC is revolving credit. The hair on fire headlines make it read like everyone is maxed out on cards which is not the case. Screw HELOC's, go with PLOC's instead. Safer. |
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Posted: 10/15/2022 2:48:30 PM EDT
[#23]
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