Americans are more in debt than ever — experts say ‘money disorders’ may be to blame
Comments
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Keep hope alive loser
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Oh boy! We're employing as many people in manufacturing now as we did when our population was 150 million!RaceBannon said:
When did you start caring about manufacturing?HHusky said:
Or manufacturing. #RoaringBack!RaceBannon said:Maybe for payday loan outfits and lawyers not so much
Obama said its gone and never coming back and Hillary agreed.
Any gains are more than you voted for.
What's good for America is bad for the democrats.
https://marketwatch.com/story/manufacturing-employment-in-the-us-is-at-the-same-level-of-69-years-ago-2019-01-04
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Read it and weep bitch
Daddy is the one who made manufacturing and manufacturing jobs a centerpiece of his campaign. #ManufacturingInRecession
Wake me when it's 1979 again.
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Yawn
Try to find some bad news so you can stop lying about good news
Thanks -
https://washingtonexaminer.com/washington-secrets/liberal-media-scream-bill-maher-cheers-economic-collapse-if-it-dooms-trump
This week’s Liberal Media Scream features HBO’s Bill Maher praying for an economy-killing recession if it scuttles President Trump’s reelection chances.
On his show Real Time with Bill Maher Friday night, he said he hopes for a recession since “it would get rid of Trump.”
When guest panelist Josh Barro, a business columnist for New York Magazine, pointed out that in a recession “people lose their jobs and their homes,” Maher shrugged, “I know. It’s worth it.”
The exchange occurred on the Aug. 2 "Real Time Overtime," a post-show online video for YouTube, recorded at the conclusion of the regular show.
You idiots should try this honest approach for a change
Imagine having 20 candidates so bad that you have to root for a recession
SAD -
"Recession" is a defined term. Daddy's centerpiece is in recession.RaceBannon said:Yawn
Try to find some bad news so you can stop lying about good news
Thanks
-
And you don't give a shit about manufacturing anywayHHusky said:
"Recession" is a defined term. Daddy's centerpiece is in recession.RaceBannon said:Yawn
Try to find some bad news so you can stop lying about good news
Thanks
By the way I showed how it was at a 40 year high. Where is your proof?
You lie like you breathe -
Manufacturing employment is not at a 40 year high. Manufacturing employment hasn’t risen to 2007 levels. Forty years ago 19.5 million people were employed in manufacturing.RaceBannon said:
And you don't give a shit about manufacturing anywayHHusky said:
"Recession" is a defined term. Daddy's centerpiece is in recession.RaceBannon said:Yawn
Try to find some bad news so you can stop lying about good news
Thanks
By the way I showed how it was at a 40 year high. Where is your proof?
You lie like you breathe -
Your word is worthless
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Not bad for something Obama claimed was gone and never coming back. And you applauded. And voted for him
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Manufacturing jobs are and will remain a small proportion of all jobs. Nobody ever said there would be none. Daddy promised millions of new jobs. The number of manufacturing jobs has risen modestly over the past 30 months, but output has declined for two consecutive quarters.RaceBannon said:Your word is worthless
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Not bad for something Obama claimed was gone and never coming back. And you applauded. And voted for him -
So you just have your usual bullshit and liesHHusky said:
Manufacturing jobs are and will remain a small proportion of all jobs. Nobody ever said there would be none. Daddy promised millions of new jobs. The number of manufacturing jobs has risen modestly over the past 30 months, but output has declined for two consecutive quarters.RaceBannon said:Your word is worthless
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Not bad for something Obama claimed was gone and never coming back. And you applauded. And voted for him
Got it -
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-08-14/trump-2020-rust-belt-pitch-threatened-by-manufacturing-recessionRaceBannon said:
So you just have your usual bullshit and liesHHusky said:
Manufacturing jobs are and will remain a small proportion of all jobs. Nobody ever said there would be none. Daddy promised millions of new jobs. The number of manufacturing jobs has risen modestly over the past 30 months, but output has declined for two consecutive quarters.RaceBannon said:Your word is worthless
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Not bad for something Obama claimed was gone and never coming back. And you applauded. And voted for him
Got it
The manufacturing recession has been in the news. Perhaps Breitbart and InfoWars haven’t mentioned it. -
Stocks up on trade news today. No sign of recession.CirrhosisDawg said:
Imagine starting a trade war, claim it’s easy to win and that US consumers don’t pay the tax then cancel your trade war tariffs because of Christmas.RaceBannon said:Imagine hoping for a recession because your candidates suck
Sorry, business is booming.
Bad news for democrats
Unless you're a democrat//socialist/commie (all the same now) then the sky is falling and you are cheering everyone dies.
https://www.foxnews.com/media/recession-dow-jones-trump-economy-msnbc -
A decline in manufacturing jobs in coming months could hurt Trump in Rust Belt swing states such as Michigan, Ohio and Pennsylvania and could give Democrats a weapon against the president.
Trump traveled to Pennsylvania on Tuesday to make his case. “Factory floors across this land are once more crackling with life,” Trump told workers at a Royal Dutch Shell Plc plant in Monaca, northwest of Pittsburgh. “Our steel mills are fired up and blazing bright. The assembly lines are roaring.”
But Trump faces U.S. manufacturing output declining in consecutive quarters, the common definition of recession within the industry, the result of global weakness and a trade war between the U.S. and China.
So far, job growth has helped Trump make his case.
Payrolls in manufacturing totaled about 12.9 million workers in July, the most since November 2008, according to Bureau of Labor Statistics data. Since Trump took office in 2017, factory employment has increased by about a half million workers after stagnating in the prior two years.
But hiring momentum in the sector has started to fade. In the six months through July, 38,000 jobs have been added at factories, the fewest for a similar period since January 2017, when Trump took office.
And you could get a set of balls and be a man -
Who knew 2008 was 40 years ago? Time flies.RaceBannon said:A decline in manufacturing jobs in coming months could hurt Trump in Rust Belt swing states such as Michigan, Ohio and Pennsylvania and could give Democrats a weapon against the president.
Trump traveled to Pennsylvania on Tuesday to make his case. “Factory floors across this land are once more crackling with life,” Trump told workers at a Royal Dutch Shell Plc plant in Monaca, northwest of Pittsburgh. “Our steel mills are fired up and blazing bright. The assembly lines are roaring.”
But Trump faces U.S. manufacturing output declining in consecutive quarters, the common definition of recession within the industry, the result of global weakness and a trade war between the U.S. and China.
So far, job growth has helped Trump make his case.
Payrolls in manufacturing totaled about 12.9 million workers in July, the most since November 2008, according to Bureau of Labor Statistics data. Since Trump took office in 2017, factory employment has increased by about a half million workers after stagnating in the prior two years.
But hiring momentum in the sector has started to fade. In the six months through July, 38,000 jobs have been added at factories, the fewest for a similar period since January 2017, when Trump took office.
And you could get a set of balls and be a man -
[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
Who knew you were full of shit?HHusky said:
Who knew 2008 was 40 years ago? Time flies.RaceBannon said:A decline in manufacturing jobs in coming months could hurt Trump in Rust Belt swing states such as Michigan, Ohio and Pennsylvania and could give Democrats a weapon against the president.
Trump traveled to Pennsylvania on Tuesday to make his case. “Factory floors across this land are once more crackling with life,” Trump told workers at a Royal Dutch Shell Plc plant in Monaca, northwest of Pittsburgh. “Our steel mills are fired up and blazing bright. The assembly lines are roaring.”
But Trump faces U.S. manufacturing output declining in consecutive quarters, the common definition of recession within the industry, the result of global weakness and a trade war between the U.S. and China.
So far, job growth has helped Trump make his case.
Payrolls in manufacturing totaled about 12.9 million workers in July, the most since November 2008, according to Bureau of Labor Statistics data. Since Trump took office in 2017, factory employment has increased by about a half million workers after stagnating in the prior two years.
But hiring momentum in the sector has started to fade. In the six months through July, 38,000 jobs have been added at factories, the fewest for a similar period since January 2017, when Trump took office.
And you could get a set of balls and be a man
-
Yeah, just like trump said. Cut fed funds 100 bps and QE. Right?UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
I’m not correlating it with a recession. I’m pointing out that when the recession hits, many will be poorly prepared and debt capacities will already have been stretched.UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
That honestly sounds like a more interesting conversation as well. Is there a thread?CirrhosisDawg said:
Yeah, just like trump said. Cut fed funds 100 bps and QE. Right?UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
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Don’t take it so hard, Race. After all, you’re getting rich.RaceBannon said:
Who knew you were full of shit?HHusky said:
Who knew 2008 was 40 years ago? Time flies.RaceBannon said:A decline in manufacturing jobs in coming months could hurt Trump in Rust Belt swing states such as Michigan, Ohio and Pennsylvania and could give Democrats a weapon against the president.
Trump traveled to Pennsylvania on Tuesday to make his case. “Factory floors across this land are once more crackling with life,” Trump told workers at a Royal Dutch Shell Plc plant in Monaca, northwest of Pittsburgh. “Our steel mills are fired up and blazing bright. The assembly lines are roaring.”
But Trump faces U.S. manufacturing output declining in consecutive quarters, the common definition of recession within the industry, the result of global weakness and a trade war between the U.S. and China.
So far, job growth has helped Trump make his case.
Payrolls in manufacturing totaled about 12.9 million workers in July, the most since November 2008, according to Bureau of Labor Statistics data. Since Trump took office in 2017, factory employment has increased by about a half million workers after stagnating in the prior two years.
But hiring momentum in the sector has started to fade. In the six months through July, 38,000 jobs have been added at factories, the fewest for a similar period since January 2017, when Trump took office.
And you could get a set of balls and be a man -
Why would I take good news hard?HHusky said:
Don’t take it so hard, Race. After all, you’re getting rich.RaceBannon said:
Who knew you were full of shit?HHusky said:
Who knew 2008 was 40 years ago? Time flies.RaceBannon said:A decline in manufacturing jobs in coming months could hurt Trump in Rust Belt swing states such as Michigan, Ohio and Pennsylvania and could give Democrats a weapon against the president.
Trump traveled to Pennsylvania on Tuesday to make his case. “Factory floors across this land are once more crackling with life,” Trump told workers at a Royal Dutch Shell Plc plant in Monaca, northwest of Pittsburgh. “Our steel mills are fired up and blazing bright. The assembly lines are roaring.”
But Trump faces U.S. manufacturing output declining in consecutive quarters, the common definition of recession within the industry, the result of global weakness and a trade war between the U.S. and China.
So far, job growth has helped Trump make his case.
Payrolls in manufacturing totaled about 12.9 million workers in July, the most since November 2008, according to Bureau of Labor Statistics data. Since Trump took office in 2017, factory employment has increased by about a half million workers after stagnating in the prior two years.
But hiring momentum in the sector has started to fade. In the six months through July, 38,000 jobs have been added at factories, the fewest for a similar period since January 2017, when Trump took office.
And you could get a set of balls and be a man -
Ah, so "imminent" recession as the great poets used it. Got it.HHusky said:
I’m not correlating it with a recession. I’m pointing out that when the recession hits, many will be poorly prepared and debt capacities will already have been stretched.UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
I’m still calling it “imminent”. I simply wasn’t saying consumer debt is the cause. I suspect the recession some are predicting for 2021 will be here sooner than that.UW_Doog_Bot said:
Ah, so "imminent" recession as the great poets used it. Got it.HHusky said:
I’m not correlating it with a recession. I’m pointing out that when the recession hits, many will be poorly prepared and debt capacities will already have been stretched.UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
Fair enough.HHusky said:
I’m still calling it “imminent”. I simply wasn’t saying consumer debt is the cause. I suspect the recession some are predicting for 2021 will be here sooner than that.UW_Doog_Bot said:
Ah, so "imminent" recession as the great poets used it. Got it.HHusky said:
I’m not correlating it with a recession. I’m pointing out that when the recession hits, many will be poorly prepared and debt capacities will already have been stretched.UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
This might be the most worthless bickering yet
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This is funny cause you keep bragging about manufacturing jobs at the same level at 1949 with twice the population.RaceBannon said:
So you just have your usual bullshit and liesHHusky said:
Manufacturing jobs are and will remain a small proportion of all jobs. Nobody ever said there would be none. Daddy promised millions of new jobs. The number of manufacturing jobs has risen modestly over the past 30 months, but output has declined for two consecutive quarters.RaceBannon said:Your word is worthless
U.S. enjoys best manufacturing jobs growth of the last 30 years
Some food for thought: the U.S. had as many people working in the manufacturing sector in December as it did 69 years ago.
The 32,000 positions added in December took the total number of positions in manufacturing to 12.84 million. In November 1949, there were 12.88 million manufacturing workers, at the end of a sharp recession.
The economy in 1949 was unlike that of the U.S. in 2019 in another way. Then, some 30% of American civilian workers outside the farm sector were in manufacturing; now, that percentage stands at just 8.5%, about as low as it’s ever been.
The hollowing out of America’s industrial base, and the loss of the highly paid jobs for the high-school educated that went along with them, goes some way to reflect the tectonic shifts in U.S. politics that set the stage for the election of President Donald Trump and his brand of populism.
Last year, 264,000 new manufacturing jobs were added, representing the highest number of new workers since 1988. As a percent of the total workforce, manufacturing rose for the first time since 1984.
Not bad for something Obama claimed was gone and never coming back. And you applauded. And voted for him
Got it -
CNBC talking point heard on the bored. !HondoBros.HHusky said:
I’m still calling it “imminent”. I simply wasn’t saying consumer debt is the cause. I suspect the recession some are predicting for 2021 will be here sooner than that.UW_Doog_Bot said:
Ah, so "imminent" recession as the great poets used it. Got it.HHusky said:
I’m not correlating it with a recession. I’m pointing out that when the recession hits, many will be poorly prepared and debt capacities will already have been stretched.UW_Doog_Bot said:[Though the majority of Americans (53%) cited debt reduction as their top 2018 financial priority, average personal debt (exclusive of home mortgages and among those with some debt) climbed higher this year, exceeding $38,000 compared to just over $37,000 in 2017. Additional new findings from Northwestern Mutual’s 2018 Planning & Progress Study further suggest that Americans are digging further into--rather than out of--debt:
Americans are twice as likely to have accumulated $5,000-$25,000 in debt (33%) rather than personal savings (17%)
Fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%)
Two in 10 people allocate a staggering 50%-100% of their income towards debt repayment
1 in 10 (13%) Americans say they will be in debt for the rest of their lives
Notably, this year, credit cards tied mortgages as the leading source of debt, spiking from 19% to 25%. Educational loans (6%; 28% for Millennials ages 18 - 24) and car loans (7%) rounded out the top three.
This is the latest data released from the 2018 Planning & Progress Study, an annual research project commissioned by Northwestern Mutual, that explores Americans’ attitudes and behaviors toward money, financial decision making, and broader issues impacting people’s long-term financial security. Prior waves focused on retirement savings, money and emotions, and working with a financial advisor.
Anatomy of Debt
The cycle of “buy and borrow” continued this year. After covering off on basic necessities, Americans allocated nearly equal amounts of their monthly income to debt repayment and discretionary expenses (an average 36% and 37%, respectively).
Looking closer at the nature of discretionary spending, dining and nightlife emerged as the top category (15%). Other mentions included:
Personal passions/hobbies: 13%
Personal care: 13%
Clothing: 13%
Leisure travel: 10%
Interestingly, the data suggests that, in succumbing to their urge to splurge, Americans may be underplaying the implications of debt on financial health. In fact, the majority (56%) said that debt has “low” or “no impact” on their ability to achieve financial security. ]
This is not at all a correlation with recession. This is a Millenial savings vs. borrowing behavior issue. You guys should go back to talking about the yield curve. That's a better indicator of the recession you are rooting for. -
Holy shit the Tug is a cesspool...My own fault for wondering in here. Please resume flinging turds all over the place.
