Originally Posted by DanaT
Household debt is falling the last couple of years only because of recession and inability to get loans. Look at the trend over the last 30 years and explain the trend based upon you statement.
Oh, it's definitely not a long-term trend. We got suckered for 30 years on "debt helps the economy." But household debt is DROPPING faster than payments on said-debt would be.
Cars are flying out of showrooms. Do you really think the average 'Murican can't get credit??? And if we are in a recession, wouldn't debt payments, as a percentage of income, go up? (Is debt falling or are overall wages increasing???? Dang. Good news or . . . good news. Hmmmm.)
The number of people acting like the dufus in the OP is DECLINING, not increasing.
The only debt we have to have continued concern over is student loan debt. Because 'Murica hasn't turned the corner on "wait, this $200K piece of paper won't get me $200K more than the $50,000 piece of paper from Ayatollah State U." I'm hoping that's soon. I can't see how a Belgian Waffle Station, nice gas fireplaces and a teacher that got an article in Obscurity This Month is going to translate into a higher wage after graduation. (The BW station is my alma mater - which no longer gets any $ from me, the gas fireplace is at the library AT THE LOCAL STATE U! ARRGGGHHH!! Did I mention they have a 15M shortfall and may have to cut education. . . . because of fireplaces? Ugh.)