Cash for Clunkers New Personal Debt
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Cash for Clunkers New Personal Debt
Image by eric731
Since all the money from the Cash for Clunkers program has been spent, how much consumer debt was just created from this government sponsored marketing effort at a minimum?
blog.beatingdebt.org/2009/07/31/house-approves-2-billion-…
Household Personal Debt 10 Dec 09
Image by eric731
On December 10th, the Federal Reserve released its latest findings on Consumer Debt Outstanding. In reflection of good personal choices, personal debt went down by 2.6% for the third quarter 2009. This is amazing because it brings the total personal national debt down to around .6 trillion. Also, for the first time ever, personal debt did not grow for the fifth quarter in a row. This decrease was due to a 13.6% drop in household home mortgage debt AND a 3.2% drop in consumer credit.
Maybe we can interpret that as people are starting to turn away from using loans and credit cards and are starting to pay off their debts and earning their freedom.
This is great news!
www.beatingdebt.org/articles/news/household-debt-down-5th…
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Comments on Cash for Clunkers New Personal Debt
I would certainly imagine that some of the money people spent on C4C came from their savings rather than a loan. Sadly, knowing our neighbors, you're probably right in assuming that most of the money that end up in dealer's hands was borrowed.
this is a great sign, lets hope this trend continues
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Federal Reserve Asks Bank Of America For Its Plan If Conditions Worsen: Report –
Great news –
RT National Debt: $14,982,443,553,379 – Increased by $4,355,566,504,466 since the Inauguration! #gop #tcot #teaparty
Princess J- it's all about our free will personal choices, !
RT rel="nofollow" 7% of Brits likely to seek payday loan (ht rel="nofollow" UK household debt 160% of disposable income, total household debt 110% of GDP.
The fifth quarter .. Here comes the waterworks.
ECB w backdoor help from the the us federal reserve/IMF Lends Banks $645 Billion, Exceeding Forecast"
My thoughts exactly. has made HORRIBLE personal choices, but his music/art is always on point.
China Stocks Retreat from High Ground –
right questions to your financial advisor's and anybody else you can think of.
Knowledge is power. Learn about business and finance and you will be scared, but calm, like I am.]]>