It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

How American Household Finances are Changing, Because of Republicans

page: 1
12
<<   2  3  4 >>

log in

join
share:

posted on Jun, 3 2018 @ 01:45 PM
link   
Ok, while everyone is arguing over who's team is responsible for our "great" economy because the fake unemployment rate is lower, the real actual economic data that matters is being totally ignored.

What matters you ask? Let's take a look..

Visual Capitalist - Debt to Income Ratio





n 2007, real median household income had a local peak of $58,149, and then fell off a cliff at the same time as the credit cycle, which reached its own peak in 2008 Q3 as the financial crisis set in.

Real median household income bottomed in 2012, and then debt followed in 2013.

Looking at the most recent year of data available, both categories are now back above pre-crisis highs. Real median household income has now surpassed its all-time record in 1999 – and total household debt has topped $13 trillion in 2018 Q1, more than $500 billion higher than its previous peak in 2008.


Most of us are actually probably well aware of this, not the older people getting ready to retire or retired, they are in a different situation. This is affecting my age group the most but Gen X as well as they struggle to get back to where they were before the economic collapse of 2008. However many of you are probably totally aware of the decrease in your ability to actually purchase things with the money you earn.



Credit Card $0.86 $0.81 -6%
Auto Loan $0.81 $1.23 52%
Student Debt $0.61 $1.41 131%
Other Non-Housing Debt $0.41 $0.39 -5%


131% increase in student loan debt, that's pretty embarassing as a nation to put our youth into trillions of dollar in debt. Car loan debt is increasing, I've post about subprime car loan lending before. Not necessarily the same as the housing subprime issue but a trend.



Shelter 12% 15% 17%
Taxes 15% 9% 15%
Transportation 14% 16% 14%
Food 15% 15% 12%
Household Operations 11% 12% 11%
Pensions & Insurance 7% 8% 10%
Healthcare 5% 5% 7%
Entertainment 6% 5% 4%
Apparel 5% 5% 3%
Other 9% 9% 8%




In the 1970s, both rates were about the same as a percentage of income, falling in a range between 13-15%. Today, the savings rate is below 5%, and debt-to-annual income ratio has risen to 22%, according to Meeker.


I know the 70's were REALLLY REALLLLLLY hard economically but somehow they were able to save 3x the amount of money.

However this isn't it...

Labor Force, BLS



2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.1 64.2 64.2 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.7 63.8 63.7 63.5 63.6 63.8 63.6 63.7
2013 63.7 63.4 63.3 63.4 63.4 63.4 63.3 63.3 63.2 62.8 63.0 62.9
2014 62.9 62.9 63.1 62.8 62.8 62.8 62.9 62.9 62.8 62.9 62.9 62.8
2015 62.9 62.7 62.7 62.8 62.9 62.7 62.6 62.6 62.3 62.5 62.5 62.7
2016 62.8 62.9 63.0 62.8 62.6 62.7 62.8 62.8 62.9 62.8 62.7 62.7
2017 62.9 62.9 63.0 62.9 62.7 62.8 62.9 62.9 63.0 62.7 62.7 62.7
2018 62.7 63.0 62.9 62.8 62.7


So, I know it sounds good when they say they are adding 230k jobs a month to the market over a decade long period but let's seriously set aside the partisan politics here and take a look at the labor force numbers.

How the hell can we add 230k jobs a month and the labor force GOES DOWN!!! I know I know people are retiring an literally an equal rate that people are entering the market. That explains why there's been millions of jobs added to the market while the labor force goes down right?

I'm selling bridges people!!




So, low home buying, market with higher rates of inflation and more debt to income ratio than before 2008 crash, housing cost way up and literally no wage growth in 30-40 years.

But let's fight over which president should be taking credit for how good the economy is.






edit on 3-6-2018 by toysforadults because: (no reason given)




posted on Jun, 3 2018 @ 01:50 PM
link   
a reply to: toysforadults

And the "Solution" for the "Problem" is ?

🔐



posted on Jun, 3 2018 @ 01:50 PM
link   
a reply to: toysforadults

Well, seeing that both Obama and Trump are heavy on regulations and meddling with what should be a free market, I would say both are equally responsible. We could even go back to (Dubya) Bush.



posted on Jun, 3 2018 @ 01:51 PM
link   
a reply to: BELIEVERpriest

You didn't read my thread which is why you have no idea what you're talking about. I just made a hit piece on how the government propaganda about the market is a total lie.



posted on Jun, 3 2018 @ 01:53 PM
link   
If everybody sat down and honestly figured out just how much stuff they really need in their life and adjust accordingly this problem would disappear



posted on Jun, 3 2018 @ 01:53 PM
link   
a reply to: xuenchen

What problem? The solution is obviously the government needs to mind it's own damn business and stop trying to control the economy with fiat currency.

But again, what's the problem because you're not really taking in any of this information with an honest intention of actually analyzing the current market trends.



posted on Jun, 3 2018 @ 01:55 PM
link   

originally posted by: khnum
If everybody sat down and honestly figured out just how much stuff they really need in their life and adjust accordingly this problem would disappear



here how about this... this data is actually in my OP so why don't you select the data that supports your position FROM MY OP..

Like the %'s of money spent on what... why don't you tell us where the money was spent?

I know it requires actual reading.



posted on Jun, 3 2018 @ 01:56 PM
link   

originally posted by: khnum
If everybody sat down and honestly figured out just how much stuff they really need in their life and adjust accordingly this problem would disappear



This.

My wife and I could both work, but we budget our household strictly on one income. It has saved us from many headaches.



posted on Jun, 3 2018 @ 01:58 PM
link   
a reply to: DBCowboy



Shelter 12% 15% 17%
Taxes 15% 9% 15%
Transportation 14% 16% 14%
Food 15% 15% 12%
Household Operations 11% 12% 11%
Pensions & Insurance 7% 8% 10%
Healthcare 5% 5% 7%
Entertainment 6% 5% 4%
Apparel 5% 5% 3%
Other 9% 9% 8%


So take out 6% for entertainment.... and 9% for other is that what you're saying?

Looks to me like the Lion's share of spending is done on survival.

Are you suggesting that we simply exist to work and sit home, isn't that like open air prison?

I should have broken this down into maybe 3-4 threads so that people would actually read past the first sentence.


edit on 3-6-2018 by toysforadults because: (no reason given)


+1 more 
posted on Jun, 3 2018 @ 02:01 PM
link   
a reply to: toysforadults

Do you really need a Cadillac or an MBA on the never never(credit) to be self actualised
Does your child really need a Bachelors in Gender Studies or Marine biology....how about a trade
Do you need more than 1 car,computer or television.

We buy things we dont need with money we dont have to impress people we dont like.

If you cannot afford it then dont buy it.



posted on Jun, 3 2018 @ 02:03 PM
link   
So the problem seems to be:

People are buying crap they don't need with money they don't have to impress people they don't like.

Seems more like a cultural problem than a political one. I haven't seen either political party give a solution that involved sound personal financial decisions.

FWIW, since I moved out of my parents house over a decade ago, my spending/saving habits have remained the same, regardless of the party in power.

Maybe if our so-called leaders would provide a proper example by paying off our nation's debts, spending less than they "make", and being fiscally responsible, the populous would follow suit...



posted on Jun, 3 2018 @ 02:04 PM
link   
a reply to: khnum

yawn. boring talking points but provide no actual data that proves anything you said



posted on Jun, 3 2018 @ 02:04 PM
link   
a reply to: cynicalheathen

Agreed we need to start living conciously instead of just consuming



posted on Jun, 3 2018 @ 02:04 PM
link   
a reply to: cynicalheathen




People are buying crap they don't need with money they don't have to impress people they don't like.


from the actual data present in the OP most people seem to be spending almost all of their money on things they need to survive and not what you list above



posted on Jun, 3 2018 @ 02:06 PM
link   
I just realize most people can't read for more than a few seconds without losing focus in the modern age, I have to remind myself of that

maybe we should limit post like Tweet's so people can get the entire idea?



posted on Jun, 3 2018 @ 02:06 PM
link   
a reply to: toysforadults

I read your OP and I get it.

I've even written a thread about how the unemployment numbers are a lie.


But I'm not in charge. I can only adjust to the sh#t-show thrown at us in a manner that is best suited for me and my family.


I want to survive, succeed, and eventually retire with enough money and assets to live comfortably. But in order to do that, I have to plan, play the game, and do without of some things.


It's life.

*shrugs*



posted on Jun, 3 2018 @ 02:06 PM
link   
The simplest solution to reducing college debt is to remove government from the business of guaranteeing student loans for every student. Once government makes something "affordable" no one can afford it. There is no incentive anymore for the unis to keep their costs under control. No matter what they decide to charge, the government (we taxpayers) will pay it, and no one will tell the poor kid he can't go to college because everyone needs (is entitled to) that degree.

Perhaps, we ought to be willing to tell some kids that college isn't where they belong. There are plenty of solid trade jobs that will provide a good living and don't start you under a mountain of debt.

Perhaps, lending for college ought to be under the condition of a student having the expectation of a program that will have a reasonable expectation of return on investment. Sorry, but Womyn's Studies degrees do not make bank. STEM degrees do. Why would any sane lender shell out tens of thousands to underwrite a Womyn's Studies degree so someone can be a "woke" barista at Starbucks?

Why should unis be able to make so much off the students (via government, via taxpayers) that they can be like Club Med?

And what profit is there in saving? Have you looked at rate of return on saving lately? The only decent rate of return is in stocks which are chancy at best. Sticking money in the bank to save it, while still prudent does not make interest. Thank the Fed.

Car loan debt? People need to stop thinking they need the newest and biggest car. Buying a car is about knowing what you need vs. what you want. You only buy what you need and only as much as you can afford. Bad credit will jack up your interest rates.

Too many people are all about what they want and not being realistic about what they need and therefore what they can actually afford.

But it's not the government's job to make people economically literate. You cannot save the stupid from themselves.



posted on Jun, 3 2018 @ 02:06 PM
link   
a reply to: toysforadults
Politicians will never just come right out and say how bad it is. Most of them aren’t as brazen about it as the current administration, but they’re all the same in that respect.

The slower people are to realize how bad things actually are, the longer before it all bottoms out.



posted on Jun, 3 2018 @ 02:09 PM
link   
a reply to: toysforadults

And how do you make the government mind its own business ?

💫🚪



posted on Jun, 3 2018 @ 02:11 PM
link   

originally posted by: ketsuko

Perhaps, we ought to be willing to tell some kids that college isn't where they belong. There are plenty of solid trade jobs that will provide a good living and don't start you under a mountain of debt.


NO!

You MUST go to college or you're a LOSER!




originally posted by: xuenchen
a reply to: toysforadults

And how do you make the government mind its own business ?

💫🚪


Tear down the Two Party + MSM System. A good place to start would be by not always speaking in terms as if there is only Republican & Democrat this, and that, and him, or her, and them. Etc.
edit on 3-6-2018 by IgnoranceIsntBlisss because: (no reason given)



new topics

top topics



 
12
<<   2  3  4 >>

log in

join