Brandonomics, the gift that keep's on giving

Poor Richard Saunders said:
According to the New York Fed, 14 million mortgages were refinanced during the pandemic refinancing boom, during which home owners extracted $430 billion through cash-out refinances. As a result, mortgages accounted for 82 percent of the increase in total consumer debt since Q4 2019,

https://www.statista.com/chart/19955/household-debt-balance-in-the-united-states/
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Err, this is about credit card debt. I don't think you can put your 8% mortgage on a credit card.
 
Lionfish said:
ECONOMY
Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says

KEY POINTS
Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Fed reported Tuesday.
Total debt rose by $212 billion in the quarter, a 1.2% increase quarterly and about 3.6% from a year ago.
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Lionfish said:
Err, this is about credit card debt. I don't think you can put your 8% mortgage on a credit card.
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Not according to your OP.

If you don't understand the topic, you should probably not discuss it.
 
evince said:
Corporate assholes firing people who want unions to protect them possibly?
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There's not enough demand because the economy has been so bad for 15 years, proving that supply side economics is a scam.
 
goat said:
Layoffs increased by 90% in 2023, yet dems keep bragging about how great the economy is while waiting for their social security.
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The saddest part of rapid inflation and that little goblin Yellen's attempt to put it in check, inflated prices take years to come down. Couple that with the fact you and I have lost something like a 10% drop in the value of the dollar, which makes this a horror study.
 
Lionfish said:
The saddest part of rapid inflation and that little goblin Yellen's attempt to put it in check, inflated prices take years to come down. Couple that with the fact you and I have lost something like a 10% drop in the value of the dollar, which makes this a horror study.
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Half the people I know have a 30yo living at home with them. They can't even afford a studio apartment.
 
goat said:
Half the people I know have a 30yo living at home with them. They can't even afford a studio apartment.
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Because you assholes give everything to the wealthiest CEOs



Those tax cuts Trump did


Trickle down idiot


It has never worked as advertised but you keep supporting such failure huh LOSER
 
evince said:
Because you assholes give everything to the wealthiest CEOs
Those tax cuts Trump did
Trickle down idiot
It has never worked as advertised but you keep supporting such failure huh LOSER
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Like you have room to complain being on Section 8, SNAP, welfare, and other government subsistence. It must be hard for you when even Walmart won't hire you as a greeter...
 
goat said:
Half the people I know have a 30yo living at home with them. They can't even afford a studio apartment.
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When you let the banks fuck home owners by not implementing fully the Gramm leach Bliely act so banks could repossess millions of homes after bank actions caused the crash


You DEREGULATEDTHEM

THEN THEY SCREWED PEOPLE


Then they snapped up those properties CHEAP


Then the banks gouged the people they rented and leased them too


Rising rental prices artificially

And exacerbating the housing problem by NOT BUILDING more housing
 
Why did Bush refuse to fully implement the Gramm leach Bliely act


For EIGHT FUCKING YEARS?



In those years they merely told the banks they could regulate themselves



They did



And they fucked the American people and CASHED in both during those years and afterward at every Americans detriment
 
SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers

Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented

FOR IMMEDIATE RELEASE
2007-190

Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

In addition, the Commission also voted to issue a second release concerning certain bank dealer activities and other related matters.
 
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