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Americans are more in debt than ever — experts say ‘money disorders’ may be to blame

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    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment

    HHusky 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


    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.
    So you just have your usual bullshit and lies

    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-recession

    The manufacturing recession has been in the news. Perhaps Breitbart and InfoWars haven’t mentioned it.
  • Options
    SledogSledog Member Posts: 30,883
    First Anniversary First Comment 5 Awesomes 5 Up Votes

    Imagine hoping for a recession because your candidates suck


    Sorry, business is booming.

    Bad news for democrats

    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.
    Stocks up on trade news today. No sign of recession.

    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
  • Options
    RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 101,485
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    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
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    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment

    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.
  • Options
    UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 14,272
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    [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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    RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 101,485
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    HHusky 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

    Who knew 2008 was 40 years ago? Time flies.
    Who knew you were full of shit?


  • Options
    CirrhosisDawgCirrhosisDawg Member Posts: 6,390
    First Comment 5 Awesomes 5 Up Votes First Anniversary

    [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.

    Yeah, just like trump said. Cut fed funds 100 bps and QE. Right?
  • Options
    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment

    [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.
  • Options
    UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 14,272
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    Swaye's Wigwam

    [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.

    Yeah, just like trump said. Cut fed funds 100 bps and QE. Right?
    That honestly sounds like a more interesting conversation as well. Is there a thread?
  • Options
    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment
    edited August 2019
  • Options
    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment

    HHusky 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

    Who knew 2008 was 40 years ago? Time flies.
    Who knew you were full of shit?


    Don’t take it so hard, Race. After all, you’re getting rich.
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    RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 101,485
    First Anniversary First Comment 5 Awesomes 5 Up Votes
    Swaye's Wigwam
    HHusky said:

    HHusky 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

    Who knew 2008 was 40 years ago? Time flies.
    Who knew you were full of shit?


    Don’t take it so hard, Race. After all, you’re getting rich.
    Why would I take good news hard?
  • Options
    UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 14,272
    First Anniversary First Comment 5 Up Votes 5 Awesomes
    Swaye's Wigwam
    HHusky 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.
    Ah, so "imminent" recession as the great poets used it. Got it.
  • Options
    HHuskyHHusky Member Posts: 19,201
    First Anniversary 5 Up Votes 5 Awesomes First Comment

    HHusky 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.
    Ah, so "imminent" recession as the great poets used it. Got it.
    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.
  • Options
    UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 14,272
    First Anniversary First Comment 5 Up Votes 5 Awesomes
    Swaye's Wigwam
    HHusky said:

    HHusky 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.
    Ah, so "imminent" recession as the great poets used it. Got it.
    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.
    Fair enough.
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    Pitchfork51Pitchfork51 Member Posts: 26,601
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    This might be the most worthless bickering yet
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    2001400ex2001400ex Member Posts: 29,457
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    HHusky 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


    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.
    So you just have your usual bullshit and lies

    Got it
    This is funny cause you keep bragging about manufacturing jobs at the same level at 1949 with twice the population.
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    SledogSledog Member Posts: 30,883
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    HHusky said:

    HHusky 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.
    Ah, so "imminent" recession as the great poets used it. Got it.
    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.
    CNBC talking point heard on the bored. !HondoBros.
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    BayDawgBayDawg Member Posts: 1,623
    First Anniversary 5 Awesomes 5 Up Votes Name Dropper
    Holy shit the Tug is a cesspool...My own fault for wondering in here. Please resume flinging turds all over the place.


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