Both Sides: Why we don't fuck with the GOP
- Thread starter donwuan
- Start date
I agree this don’t have nothing to do with the Democrats. This is Trump problem and the Republicans.
This is good. Also, the DNC chairman is doing the Lords work
Maybe they need to hire Plies as a behind the scenes consultant to reach more voters. The current crop of people on the Biden Harris team suck in creating hype and interest.
All things considered Biden is doing a great job.
The slurping of Israel sucks, but shit that's an American problem that WE ALL are complicit in as we keep choosing to be silent in these local races and early primaries. Louisiana, Alabama and Mississippi have literally said fuck voting.
I don't get WTF these single issue Democrats are doing not clapping loudly for Biden and his successes.
Oh hell yeah.
Glad she wiped that crakkka up and left hims and his $40M in the dust
But..but..but..he's pandering
But..but..but..he's playcating to the black folk cause he's in trouble
Trump lied; Americans died...
Jan 03: Trump briefed on Coronavirus outbreak.
Jan 04: Golf
Jan 05: Golf
Jan 09: Rally
Jan 14: Rally
Jan 18: Golf
Jan 19: Golf
Jan 21: Trump: "We have it totally under control. It's one person coming in from China."
Jan 28: Rally
Jan 30: Rally
Feb 01: Golf
Feb 02: Golf
Feb 10: Rally
Feb 15: Golf
Feb 16: Golf
Feb 17: Fundraiser
Feb 18: Fundraiser
Feb 19: Rally
Feb 20: Rally
Feb 21: Rally
Feb 26: Trump: "And the 15 in a couple of days is gonna be down to close to zero."
Feb 28: Rally. Trump to cuktists: "Coronavirus. This is their 'new hoax'... You'll be fine."
Feb 29: 1 dead
Mar 07: Golf
Mar 08: Golf
Mar 11: 38 dead
Mar 12: Trump: "It's gonna go away."
Mar 13: Trump: "No, I don't take responsibility at all."
Mar 16: Trump: I give myself a “10 out of 10.”
Mar 17: 110 dead
Mar 19: Trump: "We’re not a shipping clerk." in response to why PPE was not being delivered
Mar 24: 791 dead
Mar 27: Trump: "We have done a job the likes of which nobody's seen."
Mar 30: 3,150 dead
Mar 31:Trump takes meeting on COVID-19 with MyPillow crackhead
Apr 05: Trump touts unproven malaria pills
Apr 07: 12,895 dead
Apr 10: Trump: "The germ has gotten so brilliant that the antibiotic can't keep up."
Apr 13: Trump: "Everything we did was right."
Apr 14: 29,825 dead
Apr 16: Trump: “The states have authority.”
Apr 23: Trump suggests ingesting bleach and having lights go inside the body can cure coronavirus
May 01: Trump: “Blame China, not me.”
May 05: Trump: “The numbers are high because we are testing too much. If we stop testing, the numbers go down”
May 08: Trump: "This is going to go away without a vaccine."
May 09: 80,000+ dead
If he doesn't go, he doesn't care. If he does go, he's pandering. Reactionaries will never be happy no matter what decision is made, because they don't possess any real stances.But..but..but..he's pandering
But..but..but..he's playcating to the black folk cause he's in trouble
Household Debt, Delinquencies, Collections, and Bankruptcies: The Free-Money Era Is Over for our Not So Drunken Sailors
by Wolf Richter • May 14, 2024 • 45 Comments
by Wolf Richter • May 14, 2024 • 45 Comments
Everything got more expensive over the years, the population grew, so debts rose, but income rose too.
By Wolf Richter for WOLF STREET.
Total household debt outstanding ticked up by $184 billion, or by 1.1%, in Q1 from Q4 to $17.7 trillion, on declines in credit card balances, other revolving balances, and student loan balances, according to the Household Debt and Credit Report from the New York Fed today:- Mortgage debt: +1.6%; to $12.4 trillion
- HELOC balances: +4.4%; to $376 billion
- Auto loans: +0.6%; to $1.62 trillion
- Credit card balances: -1.2%; to $1.11 trillion
- Other balances: -2.0%; to $543 billion
- Student loans: -0.4%; to $1.59 trillion (due to loan forgiveness, not because people suddenly paid down their loans; we don’t even consider them “loans” anymore).
The aggregate burden of household debt.
One way to measure the burden of debt is to compare the debt to the amount of income that is available to service this debt.Everything is more expensive than it was years ago – particularly homes and vehicles. In addition, the population has increased over the years. So financed amounts have risen.
But “disposable income” has risen too – defined as income from all sources but not capital gains (wages, interest, dividends, rentals, farm income, small business income, transfer payments from the government, etc.), minus taxes and social insurance payments. This is essentially the cash consumers have available to spend on housing, food, cars, debt payments, etc. And the rest that they don’t spend, they save.
Disposable income (data from the Bureau of Economic Analysis):
- Quarter over quarter: +1.1%
- Year-over-year: +4.3%
- Since 2019: +26.7%.
Delinquencies haven’t even normalized yet.
Transitioning into delinquency: Household debts that were newly delinquent by 30 days or more at the end of Q1 ticked up to 3.9% of total debt balances — still lower than any time before the pandemic.
Serious delinquency: Household debts that were 90 days or more delinquent by the end of Q1 edged up to 1.8% of total balances, still lower than any time before the free-money pandemic.
Consumers with third-party collections near record lows.
So these are the poor souls that are being hounded by the collection agencies to which banks and other lenders sold their defaulted and written-off consumer loans for cents on the dollar.The percentage of consumers with third-part collections inched up to 4.8%. Just about every quarter since the beginning of the pandemic, the percentage had hit new record lows, and that process finally bottomed out a year ago, and what we’re looking at here is still lightyears from anything close to normal:
Bankruptcies continue to scrape along the historic bottom, with just 121,000 consumers with bankruptcy filings in Q1, compared to the already low levels of the Good Times before the pandemic of around 200,000:
The free-money era is over.
That is what the overall household debt picture shows. Our Drunken Sailors, as we have come to call them lovingly and facetiously, have been sober enough overall to keep their balance sheets overall in good shape, with the debt burden moving along historically low levels.But somebody is always in trouble, subprime is always a factor, but subprime doesn’t mean “low income,” it means “bad credit,” and goes across the income spectrum, and there’s always some of it.
We’re going to dive into the details shortly with separate articles for housing debt, credit card debt, and auto debt. So stay tuned, we’ll shoehorn those articles in between our CPI report, Canada’s most splendid housing bubbles, and other stuff coming up over the next few days. Details on housing debt hot off the press.