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Topic Title: Looming credit crisis
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Created On: 05/16/2019 06:02 AM
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 05/16/2019 06:02 AM
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3rdworldlover

Posts: 20444
Joined Forum: 07/25/2003

Right back to worse than 2008. This time, it's credit cards instead of borrowing on equity. Inevitable, since the economy is only "booming" at the top, low unemployment is due to record retirement rates, and wage growth is still lagging behind inflation, especially the cost of housing. Rent steadily outpacing wage growth.

http://www.axios.com/credit-cr...be4-b29d72548315.html

 05/16/2019 06:38 AM
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RustyTruck

Posts: 21673
Joined Forum: 08/02/2004

Debt is different for workers vs. capitalists.

If you owe the bank $100, you have a problem.

If you owe the bank $100,000,000 THEY have a problem.

That's how scum like trump can lose fortunes and getting away with it.

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You need at this time especially to know that you are fit for something better than slavery and cannon fodder. You need to know that you were not created to work and produce and impoverish yourself to enrich an idle exploiter… – Eugene V. Debs

Edited: 05/16/2019 at 06:39 AM by RustyTruck
 05/16/2019 10:42 AM
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dingpatch

Posts: 14000
Joined Forum: 07/24/2003

Also, , , , quite a lot of the zombie mortgages from 2008 are still hanging around, having never been "foreclosed". That little "derivative" thingy is also very ominous; it seems that the "amount" of all the junk derivatives is greater than the GDP of the whole fooking world!
 05/16/2019 02:09 PM
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SlimyBritches

Posts: 3807
Joined Forum: 01/08/2016

Originally posted by: dingpatch

Also, , , , quite a lot of the zombie mortgages from 2008 are still hanging around, having never been "foreclosed". That little "derivative" thingy is also very ominous; it seems that the "amount" of all the junk derivatives is greater than the GDP of the whole fooking world!


I didn't know there were any left, Treasury sec Mnuchen got all of those.
 05/17/2019 07:06 PM
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Cole

Posts: 41407
Joined Forum: 07/22/2003

Wow, how surprising!

Actually, it's not a bit fucking surprising, it's what they want.

http://money.cnn.com/2017/04/2...order-taxes/index.html
 05/17/2019 07:21 PM
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RustyTruck

Posts: 21673
Joined Forum: 08/02/2004

The Fox should be in charge of the hen house is what trump is saying. It's a damn shame if a bankrupt deal maker can't borrow more money from workers pension funds.

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You need at this time especially to know that you are fit for something better than slavery and cannon fodder. You need to know that you were not created to work and produce and impoverish yourself to enrich an idle exploiter… – Eugene V. Debs
 05/19/2019 05:01 PM
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cheaterfiveo

Posts: 3746
Joined Forum: 08/29/2013

Guess dems dont have debt....

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 05/19/2019 05:09 PM
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wtf

Posts: 3608
Joined Forum: 11/23/2005

Seems like you had some, plenty of it...

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trump - putting the 'con' in conservative
 05/19/2019 05:33 PM
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Cole

Posts: 41407
Joined Forum: 07/22/2003

Originally posted by: cheaterfiveo

Guess dems dont have debt....


Debt and delinquency...not related in the least.

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