The Biden Economy

[Dondilion]

The crux is households under debt and householders are drowning...credit cards and phantom debt.

[bobabode]

Originally Posted by Dondilion

The crux is households under debt and householders are drowning...credit cards and phantom debt.

What is this "phantom debt" you speak of?

[Dondilion]

Americans are racking up more phantom debt - why that is a problem

https://www.nbcdfw.com/news/business...oblem/3427281/

[bobabode]

Originally Posted by Dondilion

Americans are racking up more phantom debt - why that is a problem

https://www.nbcdfw.com/news/business...oblem/3427281/

Buy now pay later is a fools errand if you don't have the money.

[Chicks]

Originally Posted by Dondilion

Americans are racking up more phantom debt - why that is a problem

https://www.nbcdfw.com/news/business...oblem/3427281/

Dems have been trying to control this for many years, but Repubes, of course, refuse, as they get campaign money from these BNPL companies, and payday loan shark companies. Repubes despise consumer protection of any kind, preferring to allow businesses to put consumers into bankruptcy, then want to cut support for them when they're drowning.

https://www.brown.senate.gov/newsroo...-now-pay-later

[donquixote99]

Originally Posted by Chicks

Dems have been trying to control this for many years, but Repubes, of course, refuse, as they get campaign money from these BNPL companies, and payday loan shark companies. Repubes despise consumer protection of any kind, preferring to allow businesses to put consumers into bankruptcy, then want to cut support for them when they're drowning.

https://www.brown.senate.gov/newsroo...-now-pay-later

As an old French aristocrat put it, 'The people are just a sponge to be squeezed.' Then came the Revolution.

[Chicks]

Nobel Laureate Paul Krugman Challenges Economic Pessimism In US: 'Remember Fears That Inflation Would Get Entrenched? Not Happening'
https://www.benzinga.com/amp/content/36671784

This guy understands macroeconomics better than pretty much anyone, and especially better than MAGAMorons.

[Chicks]

Consumers haven't felt this good about the economy since 2021: 'December was no fluke'
https://finance.yahoo.com/news/consu...153749011.html

The latest University of Michigan consumer sentiment survey released Friday revealed a 13% jump in overall sentiment during the month of January. The index reading for the month came in at 78.8, its highest mark since July 2021, and well above economist expectations for a reading of 70.1.

The cumulative 29% climb in the sentiment index over the past two months is the largest two-month increase since the US economy recovered from recession in 1991.

"The sharp increase in December was no fluke," survey of consumers director Joanne Hsu said in a statement. "Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations."

More "bad" news for MAGAMorons. Sorry. LOL.

Thanks, Joe!

[Chicks]

Stock market today: Dow, S&P 500 hit record highs as tech stocks soar
https://finance.yahoo.com/news/stock...192209321.html

If the Diaper Don was still stinking up the Oval Office, he'd be shouting this on his failing Twitter clone in FULL CAPS!!!!! Thankfully, Joe has far more class than that idiot.


Thanks, Joe!

[Chicks]

A year ago most economists expected a recession. Now 91% say otherwise.
https://www.businessinsider.com/rece...tes-2024-1?amp

Clearly, economists are no better than weathermen at predicting the future.