Credit Card debt is next......$951.7 Billion worth....

[moron28]

Quote from makloda:

The aggegate networth of US consumers is something in the region of $55 trillion though.

Any info as to how much of this $55 trillion is liquid? I guess this number includes home equity and retirement savings. IMO, including home equity makes the number pretty useless.

 

[Cesko]

Quote from S2007S:

you sound a little like stk_trdr in that statement of yours.....

I forgot its no big deal, I guess ill go max out tens of thousands of dollars tonight because being in debt isnt a big deal in the US......Got to love these FREE MARKETS....JUST GOT TO LOVE THEM.

All Makloda did, he put it into the right perspective which is nothing new to anybody who is actually informed. On the other hand, yours is just emotional dribble.
By the way credit card debt is worse(higher) in Britain than in the U.S.

 

[Landis82]

Quote from S2007S:

I thought about the fed saving the consumer and you know what, you are 10000% right, they will, they saved wallstreet, they are trying to save the real estate market so I guess they will save the consumer which they already kind of did by throwing over $100 Billion of free money to nearly everyone in the US. Its great to just print money and hand it out as if nothing is wrong......



oil at 116, $4.00 gas, inflation on the rise, food prices going crazy, commodities in a bubble, you have to love it....you just have toooooooo.....

Congratulations!
You have now posted 6,203 times of the same old useless drivel.
You must be very proud of yourself.

 

[makloda]

Quote from S2007S:
the 40-45 trillion is a number I just took from the top of my head, HOWEVER, the $951.7 Billion is a reality there "BUDDY"...

2% is still 2%, not 20%.

For the consumer to go under you'll have to pray that unemployment will skyrocket to 8, 9, 10%. I have no idea if it will, but if it does then that's what puts big strain on the consumer and debt markets, not your ridiculous mere existence $1 trillion of credit card debt. As long as unemployment is low by historical standards consumers can service credit card and other forms of debt.

You're throwing around numbers and can't put them in context. Typical.

 

[S2007S]

Quote from makloda:

2% is still 2%, not 20%.

For the consumer to go under you'll have to pray that unemployment will skyrocket to 8, 9, 10%. I have no idea if it will, but if it does then that's what puts big strain on the consumer and debt markets, not your ridiculous mere existence $1 trillion of credit card debt. As long as unemployment is low by historical standards consumers can service credit card and other forms of debt.

You're throwing around numbers and can't put them in context. Typical.

If you think consumers can service credit card debt why does it keep rising year over year. Seems to me people dont have their priorites straight.


Throwing around numbers???

I think I told you that $40-$45 trillion was off the top of my head...calm down.....

 

[Landis82]

Quote from S2007S:

If you think consumers can service credit card debt why does it keep rising year over year. Seems to me people dont have their priorites straight.

And how does this help you TRADE?

Is this the CATALYST that you use to buy the TWM and DUG yesterday morning for more 2-3.5% losses in a day and a half?

 

[HolyGrail]

Quote from Landis82:

And how does this help you TRADE?

Is this what helps you buy the TWM and DUG yesterday morning?

It helps him make judgements about where the overall market is headed. That way, he doesn't have to look at market internals, he can just make an off the cuff decision, and base his trading on that. If he wins he tells himself he is a genious. If his positions are losing, he tells himself to just hold out because his analysis has to be correct, and his thinking will eventually be realized by the dumb market.

 

[S2007S]

Quote from Landis82:

And how does this help you TRADE?

Is this the CATALYST that you use to buy the TWM and DUG yesterday morning for more 2-3.5% losses in a day and a half?

I bought those positions today, after I saw the market open down on Thursday morning I stepped aside and waited, well today I made those purchases, bought

DUG
TWM and
SSG.


Will be buying more on any rally, others that will be bought are:

DXD under $50
FXP under $65
SKF under $90
SRS under $75

Keep thinking there is nothing wrong with the economy, keep thinking oil can keep rising without slowing the economy down, keep think inflation is tame, keep think jobs are plentiful, keep thinking credit card debt wont impact the markets......

 

[HolyGrail]

Quote from S2007S:


Keep thinking there is nothing wrong with the economy, keep thinking oil can keep rising without slowing the economy down, keep think inflation is tame, keep think jobs are plentiful, keep thinking credit card debt wont impact the markets......

Right now the market doesn't care, and that is where you make your money.

 

[Jayford]

Quote from makloda:

You just throw a number in here without knowing anything about the RELATIONS of credit card liabilities to net assets. Nice macro analysis there buddy.

The important number is household debt to disposable income.

End of 2006 this was at 139% to 163% (depending on whose stats you believe).

BY FAR a record. This number is starting to go parabolic.

Credit card debt is THE main problem out there not being addressed. If the consumer cannot keep buying like mad, then our economy grows slowly. Period. This has not been a major problem in the past but ratios have never been anywhere near where they are now.

It reminds me of the real estate industry just 18 months ago. "Real estate never goes down" was the common wisdom.