Spooooooky!!! Anyone else feel like we're in eerily similar times today as we were in 2007-2008. Only top 20% have more savings than pre Covid
- Thread starter GnauzBookOfRhymes
- Start date
GnauzBookOfRhymes
Superstar
Think about it.
OperationNumbNutts
Superstar
Just my two cents but I think it's about changes in the market.
GnauzBookOfRhymes
Superstar
Americans Fall Behind on Car Payments at Higher Rate Than in 2009
Automobile repossessions are climbing as inflation forces struggling consumers to make tough choices.
www.bloomberg.com
Americans Fall Behind on Car Payments at Higher Rate Than in 2009
GnauzBookOfRhymes
Superstar
3 years ago brehs.
GnauzBookOfRhymes
Superstar
61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
More than half of all U.S. adults currently live paycheck to paycheck, according to a new report.
GnauzBookOfRhymes
Superstar
Credit card losses are rising at the fastest pace since the Great Financial Crisis
Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.
GnauzBookOfRhymes
Superstar
GnauzBookOfRhymes
Superstar
Credit-card delinquency rates were worst on record in Fed study
(Bloomberg) -- US credit-card delinquency rates were the highest on record in the fourth quarter, according to a Federal Reserve Bank of Philadelphia report.
What's crazy is that nowadays our economy has completely split into two. One that is perpetually booming (which gets all of the press) and one that is on the verge of complete collapse.
Redwood
Superstar
Credit-card delinquency rates were worst on record in Fed study
(Bloomberg) -- US credit-card delinquency rates were the highest on record in the fourth quarter, according to a Federal Reserve Bank of Philadelphia report.finance.yahoo.com
What's crazy is that nowadays our economy has completely split into two. One that is perpetually booming (which gets all of the press) and one that is on the verge of complete collapse.
Truth be told, wasn't it always like this?
GnauzBookOfRhymes
Superstar
In many ways yes but what has happened in the past is that something happens that hits a wider cross section of the economy but that afterwards the relatively well off end up quickly recovering.
It seems now that no matter what hits, COVID, inflation etc...there's not even a need for "recovery"
Redwood
Superstar
In many ways yes but what has happened in the past is that something happens that hits a wider cross section of the economy but that afterwards the relatively well off end up quickly recovering.
It seems now that no matter what hits, COVID, inflation etc...there's not even a need for "recovery"
No optimism for 2030 huh?
GnauzBookOfRhymes
Superstar
The one thing I’m optimistic about is that the issue of inequality is something that’s becoming more of a priority by both the left and right. They may not use that word, they identify different industries/groups as respective bogeyman and they may not openly agree, but there has been a gradual but noticeable shift.
Once the current generation of dinosaurs retire/die off, especially on the right, I think you’re going to see more open discussion of some of the basic income style policies that might be required.
Redwood
Superstar
The right is going to be in full panic mode when that happens. I really don't expect it to go smoothly without some unnecessary bloodshed.