People are delinquent on almost everything they owe money on

[GorillaG]

We are running out of props. This is why the bidet is raiding capital gains and inheritances. This is why there are reviews of rules which will tax all unrealized 401k “gains” in investments.

Once props/external supports are no longer available or adequate then the house of cards will fall. This will be worse than the housing bubble which would once again be popped.

Part of what I do is money management, the ability to purchase has been significantly eroded. In my farm we have seen our input costs rise quickly to heights our sales over the past year do NOT support. A replacement steer costs more to buy right now than I sold for in November and earlier. Believe me, people were not happy about paying my asking prices then, today they would be CHEAP.

https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html

 

[bigb159]

If his poll numbers keep tanking he probably will...

Yes, but he'll start by shade of skin color.

 

[C_Hallbert]

I truly believe that all us sane people should start carrying baseball bats with us. Maybe we could beat some sense into the ********* out there. And JHFC don't whine to me you ********* (not you TK -- you can recognize sarcasm when you see it.) It's a ****ing JOKE!

The problem is: If ‘insanity’ is defined by a consensus of the majority, we may learn that we are the ones considered insane!

 

[THAT Gurl]

The problem is: If ‘insanity’ is defined by a consensus of the majority, we may learn that we are the ones considered insane!

Well, I ought argue that I probably need more therapy than the average person but I do manage to keep it together when I'm driving and not getting so angry that I feel the need to endanger those around me with my behavior just because of some slight, like getting cut off in traffic. People are why I prefer to just stay home.

 

[SlugSlinger]

I’ll start by saying that I got my first credit card in 2001 and I have NEVER had a balance and pay it off every month. I use it for everything I can to get the cash back.

My wife lost her credit card so I cancelled it and ordered a new one. I was changing over all the bills I pay with it to the new card number and had to call the company that picks up my trash because I had a payment scheduled for the same day I cancelled the card. The same day the payment was due. I was worried I was going to miss a payment and see a $5 late fee.

I explained to the person, that answered the phone, that I didn’t want to miss the payment and asked if the payment was processed on the old card. She didn’t see a payment and told me we could wait until next week to see if the payment will process. I told her I didn’t want to pay the extra $5 and she replied that she wouldn’t charge me that anyway because I had never paid late.

What caught my attention was when she told me that the trash company now had hundreds of accounts that were delinquent. She said it was a real effort to account for those who were late.

Our trash service is $22.50 per month and if folks can’t keep up with that, we’re in trouble.

I guess my expectations of humanity are way overrated. People lived way beyond their means and now the chickens are home to roost.

The trash service company I was referring above was acquired by a large corporate waste company.

I guess they succumbed to their hundreds of delinquent accounts.

 

[crrcboatz]

Last week, I was talking to a friend who is the service manager at the Ford dealership in town, and he said they’re selling vehicles like crazy right now. One lady in particular just bought a $92,000 King Ranch F250 and traded in her 2018 King Ranch F250 with only 40,000 miles on it.

That woman is either loaded or nuts !

 

[crrcboatz]

The Ford dealer here told me they sold a Bronco Raptor for $125,000.00

CRAZY

 

[John6185]

Just wait, the Dems will have a fix for "predatory" lending....lol..

But didn't they create the problem? They create problems and then spend a massive amount of money to "fix" the problem and then brag about what they did.

It was better when people lived within their means and the Mother remained at home taking care of the kids in the 1950's. There was less crime and stress. Then along came TV's in every home, everyone had to have one and in order to buy one, mom had to go to work and the family got used to the extra money. Even mom liked to work, it gave her a feeling of accomplishment and contribution to the family but the children suffered and begin to get in trouble and here we are today, street kids involved in nearly every crime known to mankind, debt is sky high and the nation is in trouble itself with massive spending by politicians.
Actually, I am surprised that there are not massive home foreclosures due to family debt.

 

[TANSTAAFL]

Looks like this topic has gotten back on it's feet again. Theme is credit, insolvency, inflation, high interest rates on loans. All is tied together. Inflation is the uniting factor. When was the last time the US had a deflationary period? Believe it or not we have way back with a precious metals standard. Now why do we have inflation? Only way to pay back debts and issue bonds at higher rates. When you have paper backed by paper, or by a central bank, inflation is necessary to maintain solvency. In the FED's mind, everything is okay, how else could they lie so easily?

 

[Chaparral]

C’mon man, get with our programme. S#*@ up, sit down, s=*@ it up, and we will take care of you. You will be happy.





Or else.