RSS available
| MarketTicker Forums Read Message in Ticker |
User: Not logged on
|
| Top | Forum Top | Login | Control Panel | FAQ | Register | Logout |
| Showing Page 1 of 2 | First | 1 | 2 | Last |
| User Info | Consumer Deleveraging Continues in forum [Ticker] | ||||||
|
Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
|
http://market-ticker.org/archives/1312-C....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-07 15:31:06
Permalink | ||||||
|
Junkyard Posts: 5251 Incept: 2007-11-06 
NZ: land of the damned
|
Cheers KD.
---------- It's the people in power having to admit that they know ... But you don't say it... It's a conglomarate. If one of them betrays the principles of the accrual of money and power, the others betray him.
2009-08-07 15:33:23
Permalink | ||||||
|
Guyfawkes Posts: 352 Incept: 2008-09-19 Texas
|
Could this be driven just by higher wage earners (who have a higher ability to pay more debt down) while the lower-middle and lower classes are still consuming credit (i.e., spending)? EDIT: Could the wealthy be cutting back more than the lower-to-middle class is continuing to spend? ---------- It's still "We, the People".....right? Last modified:
2009-08-07 15:43:06 by guyfawkes
| ||||||
|
Genesis Posts: 71432 Incept: 2007-06-26
KD^2
|
The credit card .vs. non-credit-card change was significant. The paydowns/charge-offs are coming much faster and harder in the credit card (revolving) segment.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-07 15:42:27
Permalink | ||||||
|
13thgeneration Posts: 645 Incept: 2007-12-03
rock <-----> hard place
|
Take that graph and deduct the Federal Government/Sallie Mae borrowing. 
2009-08-07 15:51:26
Permalink | ||||||
|
Turbojerry Posts: 136 Incept: 2008-10-10 London
|
You nearly gave me a heart attack until I realised the legend should be Millions not Billions or you need to remove 3 trailing 0s.
2009-08-07 16:00:11
Permalink | ||||||
|
Genesis Posts: 71432 Incept: 2007-06-26
KD^2
|
Updated to include the non-revolving and revolving breakdown.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-07 16:01:01
Permalink | ||||||
|
Escaping_east Posts: 107 Incept: 2009-04-19 Europe
|
http://www.bloomberg.com/apps/news?pid=2....Quote:
Doesn't seem too well... ---------- The problem with socialism is that eventually you run out of other people's money Last modified:
2009-08-07 16:14:37 by escaping_east
| ||||||
|
Ilikecoffee Posts: 1019 Incept: 2008-04-17
cold , AK
|
That sure makes trailing P/E look like it is the only P/E that counts.
---------- You can trust the government, ask any American Indian. "When people lose everything and they have nothing left to lose, they lose it" Gerald Celente
2009-08-07 16:16:39
Permalink | ||||||
|
Pabloescobar Posts: 5325 Incept: 2008-04-23 
Pacific Northwest
|
So revolving declines are most likely charge offs. Haven't we heard that all the major companies are charging off 10% of total lately? And the non revolving has flatlined because no new car loans and mortgages, and current car loans are being paid off, and mortgages are not being foreclosed. ---------- “Science is built up with facts, as a house is with stones. But a collection of facts is no more a science than a heap of stones is a house.” - Jules Henri Poincare
2009-08-07 16:26:04
Permalink | ||||||
|
Steelhead23 Posts: 388 Incept: 2008-09-09 Portland OR Online
|
Gen - Did you miss Turbojerry's comment? Is there really 2.4 quadrillion in consumer debt? That has to be too much. 2.4 Trillion maybe.
---------- short em all - let God sort em out!
2009-08-07 16:48:28
Permalink | ||||||
|
Rmonical Posts: 2155 Incept: 2007-07-04
Omaha
|
Are HELOCs counted in revolving credit or someplace else?
---------- The truth is out there
2009-08-07 17:05:39
Permalink | ||||||
|
Genesis Posts: 71432 Incept: 2007-06-26
KD^2
|
Pablo, this does not include mortgages. HELOCs and cars (fixed-term non-revolving) is in the non-revolving category. Revolving is credit cards. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-07 17:06:41
Permalink | ||||||
|
Nanna Posts: 2630 Incept: 2008-01-20 NY State
|
Outstanding U.S. consumer debt fell by $10.3 billion, or 4.9 percent at an annual rate, to $2.5 trillion, the Federal Reserve said. That's a much steeper cut than the $4.7 billion analysts expected, according to Thomson Reuters. June's reduction follows a 2.6 percent cut in May and a steep 8.2 percent drop in April, when consumers reduced their borrowing by $17.4 billion. That was the most in dollar terms on records dating back to 1943. Widespread job losses, declining home values and reduced stock portfolios have spurred Americans to spend less and save more. http://finance.yahoo.com/news/Consumers-....
2009-08-07 17:11:35
Permalink | ||||||
|
Genesis Posts: 71432 Incept: 2007-06-26
KD^2
|
By the way, I said that was going to happen, if you go back and read my Ticker on the May release  ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-07 17:12:33
Permalink | ||||||
|
Eaglewwit Posts: 1890 Incept: 2007-11-30 SoCal
|
Exactly about the PE's. How can earnings grow in sustainable fashion when the consumer is deleveraging.
---------- "Not even I imagined we would see trillions of dollars being created and given to the culprits as a means of allegedly "saving" the system. This is not mere Keynesianism; it is Keynesianism on steroids and crystal meth."
2009-08-07 17:30:41
Permalink | ||||||
|
Jlk Posts: 1234 Incept: 2009-05-24
Philadelphia
|
"Guyfawkes" wrote..Could this be driven just by higher wage earners (who have a higher ability to pay more debt down) while the lower-middle and lower classes are still consuming credit (i.e., spending)? I'm not sure how much CC debt the average high wage earner has.
2009-08-07 17:36:40
Permalink | ||||||
|
Pabloescobar Posts: 5325 Incept: 2008-04-23
Pacific Northwest
|
Isn't the other data point that sometime this year consumers were required to pay double the minimum payment?
---------- “Science is built up with facts, as a house is with stones. But a collection of facts is no more a science than a heap of stones is a house.” - Jules Henri Poincare
2009-08-07 17:39:42
Permalink | ||||||
|
Kab Posts: 629 Incept: 2009-04-02 Colorado
|
Well the good news is at least they're deleveraging right? Not that they have much choice but I'd rather get this over with sooner than later.
2009-08-07 17:43:14
Permalink | ||||||
|
Pabloescobar Posts: 5325 Incept: 2008-04-23
Pacific Northwest
|
Chase’s new 5% minimum payment: An increase so onerous, it would make a loan shark’s mother proud Mar 15th, 2009 by Dr Robert Lahm. http://www.changeinterms.com/2009/03/15/.... ---------- “Science is built up with facts, as a house is with stones. But a collection of facts is no more a science than a heap of stones is a house.” - Jules Henri Poincare
2009-08-07 17:43:28
Permalink | ||||||
|
Randy123 Posts: 2006 Incept: 2008-09-24 New Jersey
|
I think I would take Japan's economy right now if you told me that was an option.
---------- Mliu is my hero. Captain melamine.
2009-08-07 17:50:53
Permalink | ||||||
|
Shortqqq Posts: 314 Incept: 2007-07-20
las vegas
|
Deleveraging or Defaulting?
2009-08-07 18:08:41
Permalink | ||||||
|
Hihoherewego Posts: 595 Incept: 2009-02-25
|
I'll just put it this way, even WalMart when you walk into them are obviously way down on consumer traffic at least for the five I've visited recently here in So. California. The parking lots reflect it too. The number of checkout lanes with open signs lit up even on weekends are in my estimation down sharply much less the number of people standing in line, and most importantly the types of items they have in their less-than-usually filled carts which are mainly filled with ever cheaper stuff, essentials, and fewer high end items such as t.v.'s etc. People are holding onto cash because they don't know or better said have confidence that they will still have a job come January of 2010. .............. Liberty isn't free. Last modified:
2009-08-07 18:22:31 by hihoherewego
| ||||||
|
Hihoherewego Posts: 595 Incept: 2009-02-25
|
Then you have the wealthier folks like in Malibu who aren't spending quite as much either. This could have something to do with it...... http://www.westsideremeltdown.blogspot.c.... ............ Liberty isn't free.
2009-08-07 18:55:37
Permalink | ||||||
|
Wawawa Posts: 104 Incept: 2009-03-18 San Diego, CA
|
what is vertical axes numbers? Are they in Billions? That is too much!
---------- RAT RACE IS OVER, RATS WON :) Last modified:
2009-08-07 19:31:28 by wawawa
| ||||||
| Top | Forum Top | Login | Control Panel | Logout |
| Showing Page 1 of 2 | First | 1 | 2 | Last |