Household Debt Reaches $17.5 Trillion in Fourth Quarter; Delinquency Rates Rise

[Helix]

Unless you have special skills or unique knowledge that they know you have as well.

My current job pays me 80% more than my last job basically for my knowledge

I do. The attitude is that anyone can be replaced, though.

 

[Peter]

Maybe if most people were paid enough they wouldn't need to get into so much debt?

 

[Peter]

I do. The attitude is that anyone can be replaced, though.

I've worked with a few people who think that without them the place would fall appart and it always amuses me.
It's like they don't realise that the company ran for decades just fine before they turned up and will do so after they leave.
They're the sort who brag about being paid much more at the last job they had and that nobody is as qualified as them it's really rather amazing to behold.

Sometimes it's hard to hold my tongue and not respond to such obvious bollocks.

 

[Lord Tammerlain]

I do. The attitude is that anyone can be replaced, though.

Anyone can be but often at a greater cost to the company.

The one I am at knows that, which is why they hired me back after 3 years. I left on really good terms, due to the amount of time away from family I was spending

 

[Lord Tammerlain]

I've worked with a few people who think that without them the place would fall appart and it always amuses me.
It's like they don't realise that the company ran for decades just fine before they turned up and will do so after they leave.
They're the sort who brag about being paid much more at the last job they had and that nobody is as qualified as them it's really rather amazing to behold.

Sometimes it's hard to hold my tongue and not respond to such obvious bollocks.

I certainly can be replaced, but very few in Canada have the wide range of knowledge I have in the specific industry I am in.

I have really good chemical qc lab knowledge for the industry.

The formulation of the products, not all types ( I have not worked much with micro emulsions )

The packaging, and QA aspects,

The cross contamination risks and mitigation steps to take.

I certainly can be replaced but in Canada due to the limited size of the industry there would be perhaps 2 other people with all that knowledge.

One of them is the general manager of the Canadian division of a company in the industry ( $150 million in sales so a good estimate is he is making farpĺ more than I am,) the other might be at the same company he came from

 

[Lord Tammerlain]

25 trillion in 15 years, 11 of those years Democrat Presidents

truth hurts don't it ?

No it doesn't as you don't understand % and how that impacts if debt is affordable or not

 

[Mycroft]

No, Biden didn't do that, either.

But the fact that he keeps touting jobs growth and the stock market while ignoring growing inequality is another sign that he's out of touch with an important part of the Democratic base. I could be wrong, but I don't think Biden's going to see as many of his undecided voters "come home" as he would like to see (and need), and this is a reason why.

He did do this. It's a direct result of the inflation he inflicted on the country.

 

[Helix]

I've worked with a few people who think that without them the place would fall appart and it always amuses me.
It's like they don't realise that the company ran for decades just fine before they turned up and will do so after they leave.
They're the sort who brag about being paid much more at the last job they had and that nobody is as qualified as them it's really rather amazing to behold.

Sometimes it's hard to hold my tongue and not respond to such obvious bollocks.

We're basically not that different from pieces of equipment. We are maintained while still useful. When we can't be fixed back into productivity or something else comes along, we're replaced. In a number of years, no one at work will care that we worked this hard even if the place still exists. It took me a while to figure that out. It's depressing, so I try not to think about it, and usually fail. It's more satisfying to think that you're doing something that would be missed if you left.

 

[mike2810]

Maybe if most people were paid enough they wouldn't need to get into so much debt?

How would you determine the amount that equates "paid enough"?

 

[Peter]

We're basically not that different from pieces of equipment. We are maintained while still useful. When we can't be fixed back into productivity or something else comes along, we're replaced. In a number of years, no one at work will care that we worked this hard even if the place still exists. It took me a while to figure that out. It's depressing, so I try not to think about it, and usually fail. It's more satisfying to think that you're doing something that would be missed if you left.

It's why this American work ethic of working till you drop allways surprises me.
99% of companies don't give a shit how loyal you are or how much overtime you do, they'll dump you as soon as they think they don't need you.
The loyalty only ever goes one way.
The amount of US workers who've been fired over zoom calls out of the blue even if they're in the top end for the department should show how US employers feel about employees.

 

[Peter]

How would you determine the amount that equates "paid enough"?

Enough that they don't need to get into massive debt just to put a roof over their heads and not be homeless would be a start.
I don't think that's a lot to ask for.

 

[Peter]

He did do this. It's a direct result of the inflation he inflicted on the country.

Inflation is a global problem.
The US can't ignore the rest of the world and the rest of the world went through high inflation.

 

[Helix]

It's why this American work ethic of working till you drop allways surprises me.
99% of companies don't give a shit how loyal you are or how much overtime you do, they'll dump you as soon as they think they don't need you.
The loyalty only ever goes one way.
The amount of US workers who've been fired over zoom calls out of the blue even if they're in the top end for the department should show how US employers feel about employees.

It's because workers have kids and mortgages, and they fire you if you don't observe the work culture. There isn't a damned thing that you can do about it other than to quit, but your health care and possibly your family's health care is tied to that job. When you get the next job, it's the same thing, and then you have to prove yourself all over again by trying to work harder than everyone else. It's usually easier to just stay at one place.

Our work culture sucks. Don't work here if you can avoid it.

 

[Mycroft]

Inflation is a global problem.
The US can't ignore the rest of the world and the rest of the world went through high inflation.

US inflation is not a "global problem" It's a US problem.

 

[Peter]

US inflation is not a "global problem" It's a US problem.

My point is the US would have had high inflation anyway because the whole world had high inflation.
The President doesn't have a magic wand to just make the US ignore the rest of the world.

 

[mike2810]

Enough that they don't need to get into massive debt just to put a roof over their heads and not be homeless would be a start.
I don't think that's a lot to ask for.

Playing devils advocate:
- roof over their heads in the location they want to live and a size house they want?
- Will the person reduce/eliminate spending beyond the basics of food, water shelter?

There was a time when people were willing to work two jobs to make ends meet. They lived in minimal housing, did not have things like internet/cable, tv's till they could afford it.
Seems today some believe they need things to "live" which may not be the case.

 

[mike2810]

US inflation is not a "global problem" It's a US problem.

really,
The price of oil that the "world and the US pays has no impact on US inflation?
The price of imported goods to the US has no impact on US inflation?

You do realize the US is not self-sufficient on many of the items we use and consume. Never have been, will most likely never will be.

 

[Peter]

Playing devils advocate:
- roof over their heads in the location they want to live and a size house they want?
- Will the person reduce/eliminate spending beyond the basics of food, water shelter?

There was a time when people were willing to work two jobs to make ends meet. They lived in minimal housing, did not have things like internet/cable, tv's till they could afford it.
Seems today some believe they need things to "live" which may not be the case.

As long as they can live within commute of work that's fine.
The town where I live for example has become almost impossible for locals to buy in as it has a direct train line into London so I wouldn't expect many jobs to pay enough for people to live here and they have to live outside the town for a place that isn't stupidly expensive.
I'm British so I'm used to much smaller housing than the average US home anyway so I'd most likely be happy with what you guys clasify as a small house.

 

[Peter]

According to google
The average house size in the UK is 76 square metres. In the USA, the average house size is 201 square metres.

Erm, year that's quite the difference.

 

[multivita-man]

He did do this. It's a direct result of the inflation he inflicted on the country.

Biden didn't cause inflation. Inflation happened on his watch, but he didn't cause it. The pandemic and subsequent reopening caused, as well as over a decade of ultra loose money supply, which Trump actually tried to make even looser when he was running things.

 

[Rexedgar]

A club that I am happily on the outside of!

 

[Mycroft]

My point is the US would have had high inflation anyway because the whole world had high inflation.

Wrong.

There was high inflation around the world during Trump's term and the US had 2% or less inflation.

We are not dependent upon the world. The world is dependent upon the US consumers.

The President doesn't have a magic wand to just make the US ignore the rest of the world.

LOL!!

You remember the last time someone said Trump doesn't have a magic wand? Trump showed him that he DID have a magic want. It's called America First.

 

[Peter]

Wrong.

There was high inflation around the world during Trump's term and the US had 2% or less inflation.

We are not dependent upon the world. The world is dependent upon the US consumers.


LOL!!

You remember the last time someone said Trump doesn't have a magic wand? Trump showed him that he DID have a magic want. It's called America First.

The world doesn't need the US any more than they need the UK.
The world can survive just fine even if you decide to completely stop exports and importsand decide to just go full self sufficiency.

 

[stealthycat]

No it doesn't as you don't understand % and how that impacts if debt is affordable or not

that's justification for the massive debt Democrats have led us to

spend, spend, spend more and blame someone else - that is what Democrats do. But make no mistake, GOP spends crazy too, they're all in it together but when Biden leaves, national Debt WILL BE 36 trillion and in 12 of the last 16 years Democrats have be leading this country as its happened

fact

 

[MamboDervish]

that's justification for the massive debt Democrats have led us to

spend, spend, spend more and blame someone else - that is what Democrats do. But make no mistake, GOP spends crazy too, they're all in it together but when Biden leaves, national Debt WILL BE 36 trillion and in 12 of the last 16 years Democrats have be leading this country as its happened

fact

The single biggest leap in national debt in the past 25 years was the Republican neo-conmen putting the US into not one, but TWO invasions, occupations, and “nation building” in the Middle East and Central Asia, and putting All of it on a credit card.

FACT.