Listen U.S. consumer debt tops $5 trillion dollars basically kicking the can down the road with no intent of paying their debt off. This debt is compiled of credit cards, student loans, auto loans but exclude mortgage debt. But when you include mortgage debt, u.s. consumers are buried under a record mountain of debt. And nearly 9 percent of credit card & 8 percent of auto loans transitioned into delinquency meaning they didn’t pay it off, the banks & car lenders suffered & will continue to suffer & go under because they are loaning all kinds of money out. Among generation z borrowers, 1 in 6 are maxed out on their credit debt & it’s getting worse. Anyone remember the housing & bank bubble of 2008? Lowering interest rates will only make this growing bubble of debt become worse. Or think of it this way, 9 percent of credit card debt plus 8 per event if auto loan debt is 17 percent of debt that will never be paid off, that’s almost 20 percent of guaranteed loss & its only getting worse.
@@JaneJetsin that’s true it’s a consumer issue, however at one point as the lender can be held liable for unfair business practices, lending money to borrowers with full knowledge that they do not have the credit score to borrow boat loads of cash, if you keep piling on unpaid debt what does that leave you, a guaranteed recession or worse a depression, banks go under, companies go under, stocks become worthless, remember the 2008 bubble?
@@Jacob-seek-Jesus-123 They ABSOLUTELY can and should be held accountable. It does not guarantee a recession AT ALL! The 2008 bubble was not solely consumer debt. It was poor bank regulation and their practice of splitting loans into separate parts and selling the parts. That was a mortgage issue not a consumer debt issue really. There has never been a credit card company bail out. Not one. There has never been a credit card company go out of business. You are trying to paint a penguin as an ostrich and say they are the same thing.
What! No rate cut! You mean we're not going to go back to letting the banks print an unlimited amount of money to gamble with and enforce the general population to pay for the losses? This is terrible!
How ironic, Trumps economic policy would raise inflation even more if he gets elected plus increasing tariffs which results in higher costs to consumers. Let’s not forget how this inflation started when Trump was president he reduced the supply of nonessential goods drastically for a month and a half, effectively starting the high inflationary period.
Why are these comments always so inflammatory and just mind-bogglingly stupid?? I seriously don't understand how these videos bring out the worst of the swamp. It's depressing.
We all know what the plan is. Drop the rates right before the election say the housing market is doing great.
It's not an effective strategy because it's like 2 months before the election.
Why is Jerome Powell still the Fed chair?
Interest rates are too high. Fed induced inflation by excess money printing is over. Cuts need to be done before economy turns and crashes.
none are talking about the inflation which is not coming down with the no reduction in fiscal deficit
Don't believe them or NBC
I’m super excited! Because I’m confident my Powerball #’s are going to hit in September as well.
Fomc meeting in September. Keep an eye out
Cut it to give the economy another lift.
Just in time for the election
No comparison to when 45 nominated inexperienced Amy C. Barrett on 9-26-2020 to replace RBG on the Supreme Court.
is the Fed just supposed to not meet and not do economic analysis because an election is in 100 days?? You see how stupid that sounds.....
Get it done to 4.00
Thank You! Talk about perfect timing 🌖.
Listen U.S. consumer debt tops $5 trillion dollars basically kicking the can down the road with no intent of paying their debt off. This debt is compiled of credit cards, student loans, auto loans but exclude mortgage debt. But when you include mortgage debt, u.s. consumers are buried under a record mountain of debt. And nearly 9 percent of credit card & 8 percent of auto loans transitioned into delinquency meaning they didn’t pay it off, the banks & car lenders suffered & will continue to suffer & go under because they are loaning all kinds of money out. Among generation z borrowers, 1 in 6 are maxed out on their credit debt & it’s getting worse. Anyone remember the housing & bank bubble of 2008? Lowering interest rates will only make this growing bubble of debt become worse. Or think of it this way, 9 percent of credit card debt plus 8 per event if auto loan debt is 17 percent of debt that will never be paid off, that’s almost 20 percent of guaranteed loss & its only getting worse.
Consumer debt is consumer problem.
@@JaneJetsin that’s true it’s a consumer issue, however at one point as the lender can be held liable for unfair business practices, lending money to borrowers with full knowledge that they do not have the credit score to borrow boat loads of cash, if you keep piling on unpaid debt what does that leave you, a guaranteed recession or worse a depression, banks go under, companies go under, stocks become worthless, remember the 2008 bubble?
@@Jacob-seek-Jesus-123 They ABSOLUTELY can and should be held accountable. It does not guarantee a recession AT ALL! The 2008 bubble was not solely consumer debt. It was poor bank regulation and their practice of splitting loans into separate parts and selling the parts. That was a mortgage issue not a consumer debt issue really.
There has never been a credit card company bail out. Not one. There has never been a credit card company go out of business. You are trying to paint a penguin as an ostrich and say they are the same thing.
Student loan debt? No problem! Biden is happy to write off billions in student loan debt, he already has.
Ah they need to raise rates 5 percent is nothing tired of only getting a few hundred a month in passive income
raise the rates higher given time for people to breath
What! No rate cut! You mean we're not going to go back to letting the banks print an unlimited amount of money to gamble with and enforce the general population to pay for the losses? This is terrible!
Banks print money? Can you find something more stupid to say?
Okay… but I’m borrowing money to pay rent
That’s a dumb idea. You shouldn’t do that.
@@jackn8458 it's either that, or move the family to the car.
@@billw8476 That sucks. At your age you shouldn’t be renting.
@@jackn8458 i didn't survive the #Bidendisaster very well
@@billw8476 Sure blame the President for your own problems. Typical trumper not taking any personal responsibility.
I'd cut it by a percentage point a month ago already. It's done what it could. Next president will anyway.
Liberals love inflation, high taxes, and interest rates 😂😂😂😂
How ironic, Trumps economic policy would raise inflation even more if he gets elected plus increasing tariffs which results in higher costs to consumers. Let’s not forget how this inflation started when Trump was president he reduced the supply of nonessential goods drastically for a month and a half, effectively starting the high inflationary period.
Why are these comments always so inflammatory and just mind-bogglingly stupid?? I seriously don't understand how these videos bring out the worst of the swamp. It's depressing.