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Credit card debt just hit another new all-time high here in United States and is showing no signs of slowing down and continues to go higher and higher. Americans were also surveyed on why they keep using their credit cards and balances keep going up and the number one sided reason is because they cannot afford the cost of living. How is this a sign of a strong economy?
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Articles Mentioned in the Video
https://www.rnz.co.nz/news/business/530870/queenstown-eatery-s-outdoor-dining-fees-hiked-1500-percent
https://www.floridarealtors.org/news-media/news-articles/2024/10/new-hurricane-aid-available-repairs
https://apple.news/Apcw7L0ipTEqnuTyMVbnz4A
https://apple.news/ANRYCFFYrRWmUQgVXt-AMOA
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PDS Debt is offering a free debt analysis. It only takes thirty seconds. Get yours at https://PDSDebt.com/bordenaro.
@MichaelBordenaro I must zero in on your ending comments on local governments and property taxes. I am a huge victim of local property taxes. I really think they don’t want us to own. In reality us home owners are renting from the government. I am really watching to see how North Dakota votes to end property taxes. I hope they do and I definitely would look into selling all and moving there!
FUBAR! Let’s goooooo!!!!!
You think things are bad now? If Kamala gets into office prices will go up 50%-100% again in 2025. And she will unleash a communist style wave that will imprison anyone that opposes her!
My sister has lived in Queenstown NZ since 1990. Winters can get up to whiteout blizzard conditions on occasion. Queenstown is a year round tourist destination, but obviously you can’t do outdoor dining in winter. Make no mistake, the government gives zero fks. The politicians are crooks as they are elsewhere for the purpose of graft.
great content thanks
Stop voter indebtedness.
There are many people who don't have any credit card balance as they live within their means. Anyone can do it they just don't want to as they want everything NOW even if they can not afford it. People need to stop caring what others may think as others could not give a crap what others have or do when its not shoved into their face. The first thing people need to do is delete all of their social media accounts because that is one of the biggest sources of envy that gets people into fanatical trouble.
22% credit card utilization does not sound horrible Michael
There’s no new normal we won’t accept it
HA HA HA HA!! 10 yr treasury at 4.177 and climbing. That will smash and crunch all those
greedy realtors, hopey-feeley RE fools, delusional home sellers who
thought that the Feds 50 BPS rate cut would cause the RE housing market to roar back up.
30 yr Mortgage rates to get to 7% soon and that only for super prime 750+ FICO borrowers.
The housing market is toast and soon to go up in flames like the entire ME is now
Future is IDIOCRACY
I'm one who believes that this record credit card debt is due to a period of easy (and free) money and Americans addiction to recreational shopping or buying stuff they don't need as opposed to paying for life's necessities. But we'll never know for sure because people hide their problems and are not honest about their debt and finances. I'd love to see the details behind someone's maxed out credit card(s) so we can see what's real and what's not. It would be like following around a fat person for a week that claims they can't lose weight no matter what they do and see what they actually stuff into their pie hole.
of course as long as the govt keeps bailing everybody out by spending even more debt. There is no way out other than endure massive dollar devaluation , cancel debt by processing bankruptcies and restart under more sound laws. Why is Europe getting out of Petrol engines as fast as they can, you guess why.
The "holier-than-thou" attitude of "debt-free" people is so off putting. As if they got martyred on the Cross simply because they 1. deprive themselves of everything, 2. Haven't had a life changing event/emergency/divorce/illness/injury.
The type of people who gloat on YouTube about how they "sacrificed" to be debt free are the most insufferable type of people.
Here in new York ,Bronx .some restaurant to have tables outside cost about $1500 per month. But if you don’t pay this fee you get ticket of $500 .so those places prefer to pay the some .
debt forgiveness is a stupid idea. For a million reasons.
The "holier-than-thou" attitude of "debt-free" people is so off putting. As if they got martyred on the Cross simply because they 1. deprive themselves of everything, 2. Haven't had a life changing event/emergency/divorce/illness/injury.
The type of people who gloat on YouTube about how they "sacrificed" to be debt free are the most insufferable type of people.
The only way for Harris to win is if DEMS forgive everyone's debts. That is buying votes.
I thought Hurricane Helene was worse and did note damage over a larger area. So what about those hurricane victims?
Most Americans suffer from DDDD and not ADD. “DEBT, DRUGS, DEPRESSION & DEATH”
They did that with the 1987 SF Earthquake. We got notices “your zip code is included in the affected area. Some of it was store cards like JCPenney, gasoline stations, Sears…
I was thinking the same thing about the mafia just before you said it but i think the Mafia is at least smart enough to not make the guy he's squeezing to go out of business. It really does make you realize that Michael Corleone was correct when he told that crooked senator Geary. " Where both part of the same hypocrisy senator but never think it extends to my family."