US Consumer Debt growing

[Casey Jones]

Because we CAN...NOT buy basic cars like the Volkswagen Type 1 or Citroen 2CV1. Nor a basic utility vehicle like the original quasi-military Army jeep.

He11, the Army can't buy an Army jeep, now. They have to have Bradley armored carriers or huge awkward HMWVEEs.

What we NEED...is a ROLLBACK of standards, to allow little, useful cars like the King Midget or Volkswagen Gol (Fox in US, 1986-93) or the Jeep Station Wagon (1947-65) made and sold.

With regulatory rationalization, the price of a basic new car to get a kid from his Tiny Home to his job at the Call Center, would be about $6000 or so.

 

[Casey Jones]

The liars at CNBC are quick to blame corporations and banks.

WHY again do we need 20 airbags (or ANY) in ALL CARS?

HOW, again, are we going to meet fantasy Obombah-fiat air-"pollution" standards?

How about all that Nanny-State scheisse required, again, by control-freaks in gubbermint - every car with a Breathalyzer, a po-po Kill Switch, linkups to the Cloud, to make sure you don't TURN OFF any of those silly computer-control nuisances?

Interest. Is five-percent interest, "high"? It's been much higher most of my lifetime. There is no "right" to borrow at Zero-Percent.

Let's get real. We can't all afford luxury rolling vaults with air pillows all over and power seats. Let makers make or import BASIC cars - the kind that every industrial nation going through a disaster or upheaval, makes. Because we damm-sure are in a crisis, now.

 

[searcher]

How Phantom Debt Is Haunting American Consumers​

Jun 24, 2024 #CNBC

The number of buy now, pay later loans increased nearly 1,100% between 2019 and 2021, according to data compiled by the Consumer Financial Protection Bureau. The debt that accumulates from these loans is referred to as "phantom debt," because it's unclear just how much is out there and how well consumers are paying them back. Juniper Research estimates these transactions could reach nearly $700 billion by 2028. Watch the video above to learn more about the risk phantom debt poses to the economy.


11:07

Chapters:
0:00 Introduction
1:34 How much phantom debt is out there
5:00 Consequences of phantom debt
8:15 Regulating buy now, pay later

 

[searcher]

How Americans Are Paying For Vacation​

Jun 29, 2024 #CNBC

More than one-third of summer vacationers say they are willing to take on debt to pay for travel this season, according to a March 2024 report from Bankrate. The average vacation for one person in the U.S. costs nearly $2,000 per week, according to BudgetYourTrip.com. An analysis by Forbes Advisors found that 28% of Americans across all generations say they have less than $1,000 in personal savings as of May 2024. Watch the video above to learn about those vacation-spending practices and what financial experts think about them.


9:33

Chapters:
0:00 Introduction
1:16 Credit card debt
3:12 Taking out a loan
4:58 Economic consequences
6:54 Fun on a budget

 

[searcher]

I Had To "DOWNGRADE MY LIFE"...GOING INTO DEBT TO BUY GROCERIES​

Jul 15, 2024 #realestate #housingmarket #homeprices

There are some people out there who think that they are better than everyone else because their life is going great while so many others are having a tough time in this tough economy, where inflation is still outpacing, wages, and rents, and the cost-of-living our surpassing peoples incomes. For me it is something I don't tolerate here on the channel and I will make sure everyone who watches my videos knows that today.


19:49

 

[searcher]

39% of Americans worry they can’t pay the bills​

Many Americans regularly worry they won’t be able to make ends meet.

Nearly four in ten (39%) of US adults say they worry most or all of the time that their family’s income won’t be enough to meet expenses, according to a new CNN poll. That’s up from 28% who expressed those concerns in December 2021, and it’s similar to the numbers seen during the Great Recession (37%).

To cope, significant shares of Americans said they are adding side jobs, cutting down on driving and putting more expenses on credit cards.

Even higher percentages of Latino (52%) and Black (46%) Americans said they’re worried most or all of the time about making ends meet, according to the poll.

More:

https://edition.cnn.com/2024/07/23/business/inflation-cost-of-living-cnn-poll/index.html

 

[searcher]

Americans are falling behind on their car payments

Recent data from experts at Cox Automotive shows that Americans are still struggling with car payments. The number of defaults industrywide is up in the first half of 2024.

www.foxbusiness.com

 

[searcher]

Debt Collections EXPLODE AS MORE PEOPLE DEFAULT!​

Aug 5, 2024

If you're one of the unlucky who gets laid off in this horrible economy, you may want to look into working for a debt collection agency because business is booming for them. According to one of my viewers who works for one, their business has tripled just this year and they've also had to double their staff since the beginning of 2024 just to keep up with all of the new debt collection business they are receiving.


20:06

Articles Mentioned in the Video

- https://apnews.com/article/intel-chip...
- https://apple.news/APbD2Yu0OTYO3p7HRb...

 

[searcher]

Average consumer now carries $6,329 in credit card debt. ‘People are stretched,’ expert says​

• Collectively, Americans owe $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday.
• The average credit card balance is now $6,329, a new report by TransUnion found.
• As consumers lean on credit cards, more borrowers are also falling behind on their payments, both reports show.

Credit card debt is on the rise.

Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday.

The average balance per consumer stands at $6,329, up 4.8% year over year, according to a separate quarterly credit industry insights report from TransUnion.

More:

https://www.cnbc.com/2024/08/08/credit-card-debt-and-delinquencies-are-on-the-rise-reports-finds.html