We knew it was coming...

Oh dear,sky is falling,again. Lol

Some people must have everything right now no matter what. When they overextend their financial ability to pay the bills sht hapens.

Reminds me of funny retort of late PM Piere Eliot Trudeu when press reporters blamed him for inflation etc,he simply said;

It is not my fault that people live beyond their means. :)

All that I can say, sold some property. $3000.00 per month and if the couple can't finish the loan. I get it back, and will be happy about it. Tried to talk them out of buying the land. But both wanted it, offered the 3K per month payment. Plus I'm charging 6.5% on the loan.
The same couple wants to buy our 2012 Keylargo 5th wheel. At way more than it's worth. Not sure why they want both. As the land is to just build a shop on for their Semi trucks. Being its out of the flood waters. Both make great $$, but if they're out of work 2 weeks. Everything is gone for both. But live like its never going to end.
So there like most, think this wild ride will never stop. But stop it will and soon. But I'm just a dumb country boy. So I know nothing. LOL

2112 wrote:

Ok, the Federal Reserve's quarterly report is clickbait

This is all Fox Business context. Nowhere did I find a link to the actual Federal Reserve's quarterly report. They are all Fox's alternate reality links

Really? Alternate reality links? OK, sorry to get your shorts all knotted up but I suppose Fox should have not summarized the report, and published all 47 pages of it. Unfortunately they wrote a short piece, the same as CNN. BTW the link you provided is not to the full report either. On the right side of the page you linked to is the link to the full report under "related Links".

I didn't say Fox is bad. I'm sitting here watching John as I type this. They all have their agenda.

What I was saying is the link provided above was NOT the Federal Reserve report link.

Here is the complete report FRBNY Household Report
I should have said lack of completeness or statements omitted rather than out of context.

I was also saying there are circumstances and situations that affect the data. My credit card balance being one of them.

Some people still want to imply that anything from a Fox site is disinformation, and everything from the parroting news sources is true. I just call them parrot news sources because on any given day their newscasts and web stories are almost identical. It's almost like someone is telling them what to say. ;)

People choose what they want to believe. It wasn't that long ago that someone implied that fuel prices aren't too high because they see people traveling. Of course, there are a lot of people with plenty of money, and inflation won't be a problem for them. But, that doesn't mean inflation doesn't exist. Granted, there are plenty of people who probably go shopping without ever looking at the prices of what they are buying. That's totally fine, but it doesn't mean there aren't others who are really hurting.

There will be a few more steps to slow inflation down before Election Day. Who knows if the steps will be right. I guess we'll see. At least, the fuel prices went down a little.

2112 wrote:
LOL, so, what am I missing? ding bat comment
How can this be a ding bat comment?

PButler provided a link. JimK called it click bait. PButler questions if the Federal Reserve's quarterly report is clickbait. He never provided a link to the Federal Reserve's quarterly report. He provided a link to a news group that extracted a single quote out of context from 1 of the 12 federal reserve banks, just as you did.

For some context, we buy practically EVERYTHING on our discover card and pay one bill a month. As an example, every other Friday we buy $50 of can goods and take it to our local pantry. A few months ago we had to up it to $60 to buy a similar amount. That's A 20% increase. Depending on which column this falls in the spreadsheet it can be identified as a 20% increase in debt.

So, you're claiming that the quote is out of context, and unless someone provides a 'link' (because apparently some of us are incapable of searching) or, provides the entire article, it's bogus? Using that as a base, I'm going to surmise that every single major news outlet is useless then. Because everything reported is 'partial' and 'out of context'. Bad Fox.

Welcome to the world of inflation...you explained that one really well with great virtue signaling included.

LOL, so, what am I missing? ding bat comment
How can this be a ding bat comment?

PButler provided a link. JimK called it click bait. PButler questions if the Federal Reserve's quarterly report is clickbait. He never provided a link to the Federal Reserve's quarterly report. He provided a link to a news group that extracted a single quote out of context from 1 of the 12 federal reserve banks, just as you did.

For some context, we buy practically EVERYTHING on our discover card and pay one bill a month. As an example, every other Friday we buy $50 of can goods and take it to our local pantry. A few months ago we had to up it to $60 to buy a similar amount. That's A 20% increase. Depending on which column this falls in the spreadsheet it can be identified as a 20% increase in debt.

2112 wrote:

Ok, the Federal Reserve's quarterly report is clickbait

This is all Fox Business context. Nowhere did I find a link to the actual Federal Reserve's quarterly report. They are all Fox's alternate reality links

Credit card debt held by American households surged by 13% on an annualized basis in the second quarter, representing the sharpest climb since 1999 as consumers increasing rely on credit amid sky-high inflation.

The Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit released Tuesday shows total household debt reached $16.15 trillion at the end of June, an increase of $312 billion from the same quarter a year ago with mortgage, car loan and credit card balances all rising.

LOL, so, what am I missing? ding bat comment

ticki2 wrote:
It’s what usually happens when you saturate a market in a short period of time . The RV market went up 17% and now it’s predicted to go down by 8% , that’s a pretty healthy gain yet they are crying ??

If it's down 8% and the market hasn't completely collapsed yet...don't be shocked when it's down 20-30%, maybe more before things settle out.

A used market with tons of 1-3yr old units is likely to apply a lot of downward pressure on new unit sales.

Ok, the Federal Reserve's quarterly report is clickbait

This is all Fox Business context. Nowhere did I find a link to the actual Federal Reserve's quarterly report. They are all Fox's alternate reality links