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Old 02-07-2013, 08:02   #11
DanaT
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Join Date: Feb 2005
Location: CO & Baden –Württemberg
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Quote:
Originally Posted by Dennis in MA View Post
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.
High debt will pick right back up as consumer confidence picks up

Quote:
Originally Posted by Dennis in MA View Post
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.)
Incorrect assumption.

http://www.denverpost.com/opinion/ci...cas-money-tree

Considering that over half of Americans can't come up with $2000 in 30 days, I seriously doubt that cars, averaging about $30k, are being paid for with cash/savings. Credit has eased up a lot and likely people are just paying higher interest rates. That doesnt make debt ratios go up, but it does affect end cost.

For example, if you borrow money at 5% you still have the same debt ratio as if you borrow at 10% but your expenditure for the debt increases.
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Quote:
Twice a week? 14 times a month?
Quote:
2x4=8, not 14.
Many of the truths that we cling to depend on our point of view.
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