Please name it. I like to teach and God knows, it is needed here, but it is getting to be a bore when few will learn and only very few ever thank.
More Great Economic News
- Thread starter sandy
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I think that is too low. Are you excluding home mortgage debt? True it is backed by an asset, but the value of that asset is not fixed and now dropping at about 5%/ year rate.
Please both of you give your source for $30 & 19K.
I agree Truthseeker's link does not clearly supports the $753 billion in consumer debt, which when divided by 300 million Americas is greater than 200K /per man woman and child, but I think that too high; however it does suggest that the cost of this debt is higher than stated.
You don't know sh!t about me so STFU. You're f-ing annoying already.
There will be more good economic news soon. The fed will probably lower the interest rate again. YIPEE!!
Earth to sandy, that is a personal insult, like the ones you don't want to receive. Are you now going to show us that you're a hypocrite?
Are you guys blind? It's in the middle of the page! It has a list of 3 countries there and the first is the US! And that's just credit card debt.
Your calculation is way off, btw.
You could easily fix that by answering my questions:
Again:
(1) Where did you go to highschool and college? (name of schools, not cities).
(2) Were they all private (public zero or low tuition)? Or since you state your are "God made." Did God pay your tuition and food expenses?
Etc. tell a little about your self / history. Frankly based on what information and POV expressed you seem to be rich bitch* (not calling you one) who has had an easy live and looks down on all others not born with silver spoon in the mouth.
I have told much about me in varrious posts, but will answer most any question you care to ask. (It is my policy to try to respond to questions. Too bad that is not yours, but you still complain when we must only speculate about your missing information, I note.)
*Now buying up real estate you state. Where did the capital come from that got that stared. Did you sell your silver spoon and buy IPO of Google or what?
Perhaqps you gave the wrong link? Here is the only line with any specific dollar number in it:
"... defendants have violated the FTC Act and the TSR by falsely claiming that they are a nonprofit entity; that the only cost for their services is a monthly administrative fee that is less than $49 and/or that there is no application fee; ..."
Please check link or quote the part that supports your claim.
later by edit: Ok now I understand: Your small superscript is a link. It gives another link, so two links away is your support. The only link that is obvious in your post, only weakly supports your claim.
I have never said anything about you that is "vile."
I have expresses my "BET" about how hard you have had to work and stated that you APPEAR to be a "rich bitch," but never made a derogatory STATEMENT about you.
PERHAPS you have reading comprehension difficulties? (again just my speculations - as no facts stated by you. I have told that I am slightly dyslexic.)
You ingnore direct questions for information about your history that would allow such statements or contradict them.
PS you did state that "prayer" was part of the reason for your economic success. Perhaps you should write to Forbes. They have just posted a list of 10 steps to successful investing and praying is not one of them. See:
http://www.forbes.com/2007/12/07/et...1207soapbox_inl.html?partner=daily_newsletter
How could pray be, if both buyer and sell are praying on the same transaction? - One must be the "winner" and the other the "loser." Do you really believe God favors you over all others? If not, do you not believe in logic? Again not any statements about you - only obvious questions your statement about praying being the key to success prompts. That is clearly nonsense, even for the faithful.
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Warning to Ostriches:
Keep head deep in sand as here is more contradicting thread's title:
"... It's conceivable that we entered a recession in the fourth quarter of this year,'' said Paul Kasriel, director of economic research at the Northern Trust Co. in Chicago and a former Fed economist. ``It's going to be a soft holiday sales season,'' he added, predicting the unemployment rate will climb to 5.6 percent next year from 4.7 percent last month.
The collapse of the U.S. subprime mortgage market has led Citigroup Inc., Merrill and other banks and securities firms around the world to write down about $76 billion of losses and markdowns this year.
Concern about the mounting losses diminished banks' willingness to lend cash to each other, sending funding costs higher. The three-month dollar London Interbank Offered Rate climbed to as high as 65 basis points more than the Fed's benchmark rate last week. That's the widest spread, except for on Sept. 18 when the Fed cut rates, in seven years.
FROM:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahUlLsekWXLA&refer=home
The FED should be turning on the mikes in a few minutes** to announce at least a 0.25% new cut, bringing the total to 1%, but it has not yet slowed the slide of global confidence in the soundness of the US economy. The dollar continues to fall. The grim choice seems to be recession or inflation.
Freddie Mac agrees:
"... Freddie Mac expects a 3 percent to 3.5 percent default rate, exceeding the record 2.4 percent rate on its books in 1991, the company said, according to a slide presentation. Credit losses on the current book of business will be $10 billion to $12 billion, Syron reiterated today. Almost half the impairments were reflected in third-quarter results reported on Nov. 20, the company said. The decline in housing* ``will get tougher before it gets better,'' Syron said.
The share of all home loans with payments more than 30 days late rose to a seasonally adjusted 5.59 percent last quarter, the highest since 1986,
From:
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=auyuUCsPHc2U
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* Too bad, if true, for Sandy who stated that she has already been buying up real estate. Perhaps she has not been praying well recently and God gave her bad advice?
** right on sched and Bloomberg had it posted in 3 minutes:
" The Federal Reserve cut its benchmark interest rate by a quarter-point to 4.25 percent to prevent the housing slump and credit squeeze from undoing the six-year expansion. "
Keep head deep in sand as here is more contradicting thread's title:
"... It's conceivable that we entered a recession in the fourth quarter of this year,'' said Paul Kasriel, director of economic research at the Northern Trust Co. in Chicago and a former Fed economist. ``It's going to be a soft holiday sales season,'' he added, predicting the unemployment rate will climb to 5.6 percent next year from 4.7 percent last month.
The collapse of the U.S. subprime mortgage market has led Citigroup Inc., Merrill and other banks and securities firms around the world to write down about $76 billion of losses and markdowns this year.
Concern about the mounting losses diminished banks' willingness to lend cash to each other, sending funding costs higher. The three-month dollar London Interbank Offered Rate climbed to as high as 65 basis points more than the Fed's benchmark rate last week. That's the widest spread, except for on Sept. 18 when the Fed cut rates, in seven years.
FROM:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahUlLsekWXLA&refer=home
The FED should be turning on the mikes in a few minutes** to announce at least a 0.25% new cut, bringing the total to 1%, but it has not yet slowed the slide of global confidence in the soundness of the US economy. The dollar continues to fall. The grim choice seems to be recession or inflation.
Freddie Mac agrees:
"... Freddie Mac expects a 3 percent to 3.5 percent default rate, exceeding the record 2.4 percent rate on its books in 1991, the company said, according to a slide presentation. Credit losses on the current book of business will be $10 billion to $12 billion, Syron reiterated today. Almost half the impairments were reflected in third-quarter results reported on Nov. 20, the company said. The decline in housing* ``will get tougher before it gets better,'' Syron said.
The share of all home loans with payments more than 30 days late rose to a seasonally adjusted 5.59 percent last quarter, the highest since 1986,
From:
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=auyuUCsPHc2U
------------------
* Too bad, if true, for Sandy who stated that she has already been buying up real estate. Perhaps she has not been praying well recently and God gave her bad advice?
** right on sched and Bloomberg had it posted in 3 minutes:
" The Federal Reserve cut its benchmark interest rate by a quarter-point to 4.25 percent to prevent the housing slump and credit squeeze from undoing the six-year expansion. "
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So far, I'd say there's no recession. Business has been good. Certainly with the increasing cost of energy and the falling dollar, I'm concerned. But it doesn't seem like we've entered a recession yet to me.
Wasn't 5% unemployment once considered "full employment"?
That may be true.
I'm considering buying a new house. But I'm watching the prices drop and waiting for the right time. Already, many houses that I like that were bought for over $400,000 are selling for the low $300,000. I'm thinking they will go down to $250,000, then I'll buy.
Whether her real estate investments turn out to be profitable remains to be seen. But I seem to recall that she mentioned prayer as just one criteria she uses, not the only one.
That wasn't tough to predict. I also expected it.
You don't know sh!t about me so STFU. You're f-ing annoying already.
There will be more good economic news soon. The fed will probably lower the interest rate again. YIPEE!!
you don't know shit about people here yet you have judged them. quit playing the victim it is already old and makes you look like a fool.
Something like that but I remember 3%.
It is important to understand that the official rate is based on those who are seeking a job and can not find it. I.e. does not count those who have given up or found some not official way to get some cash (stealling, selling dope, Hooking, etc. included.) As "hard times" streach out this group grows. Thus the official rate does not relflect the problem as "HARD TIMES" CONTINUE (but the prison rates tend to go up - US's are very high, in part because of this.).
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You may be correct. We will need to wait for the data. "Recession" is usually defined as two consecutive quarters with no growth. I doubt if your typically so your POV may not be correct. Certainly, "Joe American" is hurting more than you. He may not have the ability to keep spending as banks are still holding tight to their cash. Immediately afer the FED announced only 0.25% the dow dropeped about 200points so investrors think that was not enough to stop a recession if it is not yet here.
BTW, You said I should defend Sandy when she is right. (I did in the only time that, IMHO, that occured.) I asked you to specifically tell me some other times when she was clearly right, but you never did. I ask again:
What did she post that is clearly correct, not just her opinion. - which post? and what? She rarely gives reference as I usually do. Almost all of my post, which your are commenting on is just fact and the POV of a former member of the FED, not that makes him clarivoient, but his opinion should count more than yours to the contrary.
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I would like to, Billy, but from what I've seen here in the past it would be considered poor taste at the least and spam at the worst.
My source was a Google search for "consumer debt" and the number I quoted was the highest I could find on the first page of the search results.
Then PM me please. I have named another thread more than once here - I was banded at it as the chief hancho "just knows" there are no small black holes, at least not anywhere even vaguely near our solar system, so my wanting to discuss how they might be detected was "in appropriate." My continuing to try got me banded.I would like to, Billy, but from what I've seen here in the past it would be considered poor taste at the least and spam at the worst.
Yeah, the right link is: http://en.wikipedia.org/wiki/Credit_card_debt
Here's another article with the full figure (but this was in 2004!):
http://www.washingtonpost.com/ac2/wp-dyn/A10011-2004Jan12?language=printer
"The figure covers most short- and intermediate-term credit extended to individuals, including car loans. It excludes loans secured by real estate, such as home mortgages. When mortgages are taken into account, the nation's households owe close to $9 trillion, Manning says. "
Imagine now with the mortgage crisis....!
http://www.washingtonpost.com/ac2/wp-dyn/A10011-2004Jan12?language=printer
"The figure covers most short- and intermediate-term credit extended to individuals, including car loans. It excludes loans secured by real estate, such as home mortgages. When mortgages are taken into account, the nation's households owe close to $9 trillion, Manning says. "
Imagine now with the mortgage crisis....!
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