credit card debt soaring

Topspin said:
wow freak seriously, you got a degree in economics and this is over your head.
Questions, 1.when was the last down year for the market.
2. you seriously since you have graduated have not seen a chart of household networth
3. your joking on the 401K, you don't think the millions of contributers are putting in more than they take on in debt.
DUDE!!!!
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1) Again you are a chickenshit and fail to provide the data you say is so readily available. Post your chart toppy. Prove me wrong. I am not going to go out and google a chart only to have you say something like "that is not the one I am using". Put up or shut up chump.

2) I have seen many charts on household networth over the years toppy. The point is.... which one are YOU USING you friggin tool.

3) Yes toppy, I don't think the average person is putting more in retirement accounts than they are taking on debt. I also am quite aware that simply putting money in a 401k does not mean the 401k assets are increasing in value.

4) 2002 was the last down year on the market (on average). Obviously it depends on where you invest as many sectors were negative as recently as last year. Now what was that you were saying about the market always going up?
 
alright moron I'll go get the chart to prove you wrong.
Damn, I'm telling you I've seen dozens and non show a single year down in the last 5 or so years.
 
same shit for median, median is slightly lower than average but the direction of change is the same. weak ass response. Prove me wrong.
 
AssHatZombie said:
That chart shows all households added together. OF course some assholes are getting rich. This reflects nothing about the median household. He later MENTIONS the average household, but he does not give different points in time for the median. He's being deceptive.
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yep like the wall street bonuses skew the average iincome figures every year....
but that is the only way some can attempt to make their failing point.
 
Superfreak said:
You see toppy... from your initial post I knew you were going to post this shit. Using total net worth of all US households? That is a great way to look at how net worth is increasing for the majority of Americans. You need to look at median net worth toppy. See if that is increasing or decreasing toppy.
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darn it we have been over this several times with spinner and he still does not get it....
 
Topspin said:
same shit for median, median is slightly lower than average but the direction of change is the same. weak ass response. Prove me wrong.
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That is what I thought toppy. You just realized that you were wrong to use that lame ass average, because it is severely skewed by the ultra wealthy.

http://bigpicture.typepad.com/comments/2006/02/fed_stagnant_ne.html

This references the last time the Fed did their survey. But to my knowledge, nobody has done a study for the year 2007 as of yet. With the housing decline, subprime mess, increasing credit card debt etc... I would bet that the median most certainly did not increase last year.
 
and what is the direction
still median net worth reached over $100,000 last year. And maybe this year it goes down. But we've had 5 yrs of solid growth for the median. Ahh what % do you think college grads rank in the distribution. ie most posters are college educated top 1/3 net worth people.
 
Topspin said:
and what is the direction
still median net worth reached over $100,000 last year. And maybe this year it goes down. But we've had 5 yrs of solid growth for the median. Ahh what % do you think college grads rank in the distribution. ie most posters are college educated top 1/3 net worth people.
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What you are failing to factor in (which is no real surprise) is the fact that the Fed only factored in inflation. It did not factor in the 40% decline in the purchasing power of the dollar over the past 6 years.
 
all I said was NET WORTH IS UP FOR THE LAST 5YRS
true the dollar is down, and for all you clowns jumping on that like it's juco econ the dollar is where it was vs the european CURRENCEY 10 yrs ago.
I don't live in Europe I live in the US
 
Yeah your 100k of worth will now buy 60k. in one year, now that is progress.
More milionaires than ever before :clink:
 
Topspin said:
all I said was NET WORTH IS UP FOR THE LAST 5YRS
true the dollar is down, and for all you clowns jumping on that like it's juco econ the dollar is where it was vs the european CURRENCEY 10 yrs ago.
I don't live in Europe I live in the US
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we are having trouble determining the universe you live in let alone the country.
 
Topspin said:
all I said was NET WORTH IS UP FOR THE LAST 5YRS
true the dollar is down, and for all you clowns jumping on that like it's juco econ the dollar is where it was vs the european CURRENCEY 10 yrs ago.
I don't live in Europe I live in the US
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Yes, toppy, we already covered that it was comparable to where it was against the ECU ten years ago. The point toppy is that it has DECLINED OVER THE PAST SIX YEARS. Thus, the buying power of the dollar has diminished over the past six years. That puts a squeeze on the majority of consumers toppy.
 
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