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Thread: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

  1. #41
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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by lpast View Post
    This is the lowest Ive ever seen the middleclass in my lifetime, the worst postion they have ever been in...and the teaparty keeps RAGING how they need to rip the genitals off public workers and Abolish social security and medicare...

    This is the most disgusting display of greed in my lifetime also...and I pray it all backfires and blowsup in their faces.. This is truly dispicable
    If you think the tea party is raging now, you're in for a big surprise because you ain't seen nothing yet. This administration's repeated attempts to stimulate the economy have failed to produce significant results and are partly at fault for rising prices. QE has weakened the dollar, and Obama's unprecedented spending and the still lifeless recovery has us in a debt crisis.

    Prices are going up and wages are going nowhere (hello 70's?). So what to do about inflation? Typically, you raise interest rates to combat inflation, but that will only exacerbate the debt crisis -- we're already running trillion dollar deficits and an uptick in interest rates will only make things worse. And if you think home prices suck right now, how much do you think climbing interest rates are going to help?

    Maybe things will go your way and social security will be "saved" as it keeps paying that $1200 each month. Your delight may be short lived though when you find out that $1200 doesn't buy nearly as much as it used to, your house is worth even less than it is now, and... dare we bring up that nest egg that you were promised would bring a comfortable retirement over decades of compound interest?

    I wouldn't want to be Obama right now. Hell, I wouldn't want to be Obama's replacement, either.

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    we need to put Americans to work building something. it might not even be consumer goods; it could be something like fixing our crumbling infrastructure and building new power plants.

    not that i wouldn't support making goods here; i would.

    the credit bubble will burst again and again. it's not a way to prosperity. people want and need jobs, and capitalism / society doesn't work without opportunity and employment.
    Last edited by Helix; 07-21-11 at 07:28 PM. Reason: clarification

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by tessaesque View Post
    I make under 30k a year. I was raised on welfare and foodstamps. I wore used clothes, ate expired food from church donations, had lice we couldn't afford to get rid of. I dealt with gallstones the size of golf balls for 8 years because the medicaid payouts wouldn't cover the sonogram that would have diagnosed the problem because some stupid little chart they had said that I was too young for such ailments and that a sonogram was medically unnecessary. I have most CERTAINLY been on the low end of the spectrum.

    That doesn't mean I have to act like the world is ending when it isn't.
    Your cutting your own throat, because they shall do NOTHING for you but make your life worse when your older...aside from that...the world is ending as alot of working class people know it....In my 64 yrs its never been worse...and the working class didnt create this...the RICH did period

  4. #44
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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by Taylor View Post
    If you think the tea party is raging now, you're in for a big surprise because you ain't seen nothing yet. This administration's repeated attempts to stimulate the economy have failed to produce significant results and are partly at fault for rising prices. QE has weakened the dollar, and Obama's unprecedented spending and the still lifeless recovery has us in a debt crisis.

    Prices are going up and wages are going nowhere (hello 70's?). So what to do about inflation? Typically, you raise interest rates to combat inflation, but that will only exacerbate the debt crisis -- we're already running trillion dollar deficits and an uptick in interest rates will only make things worse. And if you think home prices suck right now, how much do you think climbing interest rates are going to help?

    Maybe things will go your way and social security will be "saved" as it keeps paying that $1200 each month. Your delight may be short lived though when you find out that $1200 doesn't buy nearly as much as it used to, your house is worth even less than it is now, and... dare we bring up that nest egg that you were promised would bring a comfortable retirement over decades of compound interest?

    I wouldn't want to be Obama right now. Hell, I wouldn't want to be Obama's replacement, either.

    Your the one in for a surprise taylor...the teaparty supporters couldnt get rand paul elected to used prophylactic picker upper....the rich collectively have nothing for votes...when the working class turns on ya...its all down hill....and trust that they WILL eventually...then your teaparty is over

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by BamaBrat View Post
    I need to find out what jobs these are that public workers have it so good in so my hubby can switch jobs!
    If he's willing to put in a little overtime, he can pull in over $100,000 driving a bus in SF.
    Driver salaries fueling deficit | Joshua Sabatini | Local | San Francisco Examiner

    Though if he's not much of a people person, I hear the average trash collector still pulls in $75k:
    Lockout by Oakland garbage company / Replacement workers hired to pick up trash

    Or, if he likes to live dangerously, he can make $150-200k as a firefighter:
    San Francisco Firefighter Salaries Grew During Recession CBS San Francisco

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by Taylor View Post
    If he's willing to put in a little overtime, he can pull in over $100,000 driving a bus in SF.
    Driver salaries fueling deficit | Joshua Sabatini | Local | San Francisco Examiner

    Though if he's not much of a people person, I hear the average trash collector still pulls in $75k:
    Lockout by Oakland garbage company / Replacement workers hired to pick up trash

    Or, if he likes to live dangerously, he can make $150-200k as a firefighter:
    San Francisco Firefighter Salaries Grew During Recession CBS San Francisco
    Lets not forget 120K to be a lifeguard.

    Union Defends 13 Calif. Lifeguards Making Over $120,000: ‘Very Fair & Very Reasonable’ | Video | TheBlaze.com

    I see greed from both ends of the spectrum. Unions will often inflate wages/benefits beyond a reasonable level imo and corporations will keep wages/benefits as low as possible for the working class while those at the top receive ridicules packages.

    They both come out as self serving at the expense of others.

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by lpast View Post
    Yes you are...stop cheerleading for the rich which I would bet you are not one of
    I wasn't. I was telling you pretty bluntly to know where to put blame. You can't expect inflation to be under control when the value of the dollar is falling faster than ever before. When the government just goes around playing with market like its a play thing, and in the process cause everything to cost more you can't just say Oh, its the rich. Lets do a history lesson real quick for you.

    When the government played with healthcare throughout the twentieth century they caused every part of it to be very expensive even being responsible for the system the insurance companies use. When the cost actually started to hurt the poor and the eldery like never before they just created Medicare and in predictably raised it again.

    You see this bull**** over and over and over again. Even some of the bull**** that people bitch about like power companies not moving forward is because the government pays their bill.

    I am completely tired of idiots that can't do any reasonable research telling me the rich are responsible for the **** that happens in this country.

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by lpast View Post
    Your the one in for a surprise taylor...the teaparty supporters couldnt get rand paul elected to used prophylactic picker upper....the rich collectively have nothing for votes...when the working class turns on ya...its all down hill....and trust that they WILL eventually...then your teaparty is over
    If you think we can tax the rich out of this mess, you haven't bothered to do the basic math and are in for a big surprise. One way or another, the good people who requested all of this spending are either going to have to give it up, or pay for it themselves.

    On the bright side of things...
    1. If some of the more intellectually challenged move to China, where they think all the American jobs are, we may see unemployment start to improve.
    2. And of course Obamacare should be a big help in reducing SS and Medicare costs by ensuring that fewer people make it to age 65.

  9. #49
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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by lpast View Post
    Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices.

    Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes - Bloomberg

    The middle class who used to rely on their homes as savings have seen their home value plummet to where their mortgages are higher than worth of their houses..

    This is the lowest Ive ever seen the middleclass in my lifetime, the worst postion they have ever been in...and the teaparty keeps RAGING how they need to rip the genitals off public workers and Abolish social security and medicare...

    This is the most disgusting display of greed in my lifetime also...and I pray it all backfires and blowsup in their faces.. This is truly dispicable
    the middle class is doing this to ourselves. you were never supposed to rely on your homes as savings, you were never supposed to depend on credit cards. you weren't supposed to buy a house you couldn't afford, you were supposed to start saving for retirement in your 20's.

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    Re: Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes

    Quote Originally Posted by lpast View Post
    Your the one in for a surprise taylor...the teaparty supporters couldnt get rand paul elected to used prophylactic picker upper....the rich collectively have nothing for votes...when the working class turns on ya...its all down hill....and trust that they WILL eventually...then your teaparty is over
    Then when its over and the country still crashes because none of you people can stop printing money and stop taking loans. I guess as long as the middle class lives in rainbow land its all good. Until economics 101 shows up. I guess at that point its rioting time instead of reflection time.
    Last edited by Henrin; 07-21-11 at 07:59 PM.

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