U.S. household debt increased by $1 trillion in 2021, the most since 2007

Again, all signs of exuberance linked to higher savings rate, asset value increase, low unemployment, greater job opportunities, higher pay... yes, Americans are incurring more debt but it's a sign of confidence.
 
VicBee said:
Americans are incurring more debt but it's a sign of confidence.
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If your car breaks down for good, you need another one. That's not confidence so much as desperation borrowing to pay the new price.
 
ipatent said:
If your car breaks down for good, you need another one. That's not confidence so much as desperation borrowing to pay the new price.
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If your car breaks down for good... What does that even mean? Sounds like life itself is a burden.
 
Covertibility said:
fredgraph.png



Very Seriously Scary Chart (or is a graph(?)) for a Very Serious thread
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All the charts I can find on debt to GDP are updated through Q2. Debt and inflation have been taking off since Q3.
 
VicBee said:
Again, all signs of exuberance linked to higher savings rate, asset value increase, low unemployment, greater job opportunities, higher pay... yes, Americans are incurring more debt but it's a sign of confidence.
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Irrational exuberance as always lol. It looks like we are back to the ole boom/bust cycle that comes with a hot economy and inflation. The slow, but steady growth/low inflation of the 2010's was an anomaly. When it crashes we'll probably quickly spend a shit ton in stimulus to prop it up again and further ruin the credibility of the dollar.
 
athlonmank8 said:
Im confused why that's scary. It seems like everyone is underleveraged or don't own a house.
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This is the total debts divided by the total income, the latter inflated by those of the very rich like Bill Gates and Bezos who probably have zero debts. Also mortgage debts payments decreased as people refinanced the mortgage loans into ones with lower rates.
 
canada812 said:
This is the total debts divided by the total income, the latter inflated by those of the very rich like Bill Gates and Bezos who probably have zero debts. Also mortgage debts payments decreased as people refinanced the mortgage loans into ones with lower rates.
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Thanks!
 
Overnight said:
That is the folly right there. Why the hell do you want to owe more and more and more?!? That is not financial security, but financial INSECURITY!

Terrible plight!
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A very terrible plight, digging a ditch for themselves and carelessly hoping there is light at he end of the tunnel.
 
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