Steve Moore: This is the most worrisome thing about credit card debt
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- Опубліковано 7 лют 2024
- Economist Steve Moore discusses an increase in credit card and auto loan delinquencies and McDonald's' inflated prices on 'The Bottom Line.' #foxbusiness #thebottomline
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It’s not by accident. You’re seeing debt forgiveness left and right. Government wants you to become dependent.
Exactly!!
Buying votes.
We forgave you, you need to forgive us. Just prepping you for a reset.
WEF
@davidperham897 omg another cookie who believes the WEF has more power than you
People are not doing better if delinquencies in debt payments are up.
It's a bubble, and it is about to pop.
I can't wait.
Bidenomics is just a bubble that’s bigger than the one sitting on Biden’s shoulders 🥺
And both full of excrement.
I see commercials still on UA-cam talking about Obama care and he hasn’t been president for years!!
@@martinp3371 That’s the free healthcare for illegals (which we’re all gonna have to pay for.)
My mother who is 70 still working. I’m disabled and had to return to work part time. And Biden gives millions to illegals and Ukraine.
Not millions but billions to both Ukraine and Israel
@@danishhussain8046Ukraine aid is 2 years longer than the tiny portion we've helped our best friend Israel.
@@danishhussain8046 I’m sure over the course of decades it’s probably trillions. Maybe even googols
Israel is an ally while Ukraine is a cash cow for democrats and RINO's.@@danishhussain8046
Your mother having to work at 70 is indicative of poor planning in her 20s 30s 40s and 50s - you can’t put that on Biden
We can thank the Dems for All of this!
And RINOS/uniparty.
Don't forget Republicans played their part as well.
So many Americans just dont get it
@@rtquest22Republicans are not in power.
Some but not all. Every single democrat is guilty.@@rtquest22
I just got a notice from Home Depot that my interest on my card which I pay off every month will raise to 29.99%!!!!!! I called the company & why since I pay it off every month! I was told all customer rates are being "equalized" what ever that means!!!
It means you are going to pay a higher interest (if you pay any) to cover for those that are behind on their payments...
It's crazy that companies can just rake up ppls interest rates. The government needs to step in and stop these greedy companies from ripping off Americans!!
The wealthier customers with high FICO scores usually got the lowest rates, such as 6.99 or 12.99% and they could afford to pay their credit card balances each month . On the other hand, the poorer customers with low FICO scores had higher rates, such as the 29.99% and usually carried balances, racking up high interest, which wasn't "fair".
@@zac1375 Well, it's "fair" in the bankers world! And this IS the bankers world, if you haven't noticed!
BTW, Biden introduced the idea last year. He also wants home buyers with good credit to pay larger down payments to cover the foreclosures.
It's called "capitalism" for the bankers and "socialism" for the people!
p.s. I don't carry CC debt, and haven't seen interest added to my very few purchases..?
@@escaped1534
Yep - I've heard/read about those things. I have one clarification - it is more accurately called "corporate capitalism". "Very fair" to the credit card companies! Note that they did not LOWER interest rates for all. 🙀
This is Worldwide not just USA. But USA has pushed for 30 years that going into debt on a credit card is great. Oh got to have a GOLD card to look rich when you're NOT! Well, the rich can pay it off and do not go into debt. Life is simple never have a credit card. Pay CASH for everything and save for what you want. You have raised 2 generations that are driven by they need everything right NOW!!!. Going into debt to get it is fine. IT IS NOT!. You caused your own mess. And every time you use a card the banks skim a bit off the top.
Agree 100 percent but also the American mentality is everything is disposable. Years ago you bought a quality product, furniture or whatever and it was something valued and kept for a lifetime. No more.
Increased wages=increased taxes. The economy has grown because people do not have a choice on what we pay for but credit cards tell the tale.
Perfect example.
wages don't rise for retired Americans
My grocery bill for 2 people average $250 per week. ($1,000 a month)
I used to Feed My Family of 6
cheaper than That! 😟
Enough is enough
Self- governance requires a freedom of conscience- but love is the substance necessary- not revenge
I ❤USA
You spend what you want , you want more expensive food
LOW INCOME AND THE SICK. MEDICAL PRICES ARE OUTRAGEOUS TOO
Parents need to stop helping their adult children. It only reinforces their poor voting habits and decisions. Let them struggle and fail at times. If they're smart, they'll learn and take responsibility for their actions.
If they can’t afford it they shouldn’t buy it. But there is generational entitlement and most kids today where raised by weak entitled parents.
There not smart. If they were they would not need there parents to bail them out. The whole generation feels entitled.
Unless the parent is living in the adult child’s home. Then it’s perfectly fair in my opinion to help within reason, but that’s not what normally is happening.
Hah. I could say the same about my mom.
I'm Self-employed... I live day to day .. never use Credit cards because I can't afford the interest rates..
We can’t afford NOT to use credit cards. The Wells Fargo card gives us 2% cash back on everything we buy. Amazon gives us 5% back, and the Sears (Shop Your Way) card reimbursed us 16% ($1,000!) cash for all we bought in 2021.
Who’d of thought that people would be taking out credit card loans to buy McDonalds or other stupid fast food. Evidently economics has been dropped in high school along with all the other life skill classes.
We should send 60 billion over seas, we definitely don’t need it 😂 said no smart person ever.
God bless the farmers
Thank God for Farmers God bless them stay strong
It's not an income issue, it never has been. It's an overspending issue. That's what it's always been.
This cannot be said loud enough !! I just learned that a couple of friends haven't made student loan payments on $8,000 student loan....over the last 30 years. In the mean time they bought new cars, houses, furniture..had 3 children or 4, Now the student debt is $20,000.. being an accountant and a nurse..that debt could've been paid off decades ago. Living beyond their means has created their stress.
i havent spent excessively (on wants) in the last few years but the rising costs of energy and groceries has made me spent way more then i normally would. i consistently work 70 hours per week, and that's just to maintain my standard of living and NOT grow more debt. i am paying it off, but not at that rate i should be able to..... if it weren't for the dopes stealing my wages (taxes), and causing inflation to be consistently much higher then normal.
FJB
Both population and big G
Rather buy homes than pay off the student loan.. may make sense to pay it off though; depends on the rate. :)@@Joce123
If things are so hard than why are the restaurant and shopping mall parking lots full every day?
Because not everyone is suffering .
Stupid people
Because these are the fools are going to get the biggest surprise when it's all gone. Yeah even my kids are living like there is no tomorrow. I buy a cabbage (1.99) and potatoes (4.99 5lb)and one slice of ham (2.99) and I have dinner for three days. Bologna and cheese for lunch with tea and cheerios or a bagel and coffee for breakfast.
Income needs to be up 35% for me to keep up with costs of everything.
Thanks, Joe Bidet!
Live on less than you make. Maybe you don’t need a 3500 SF McMansion, a leased car, two vacations a year, a new phone every year, multiple streaming services, food that wasn’t prepared in your own kitchen, and a hundred other things that we’ve convinced ourselves are “necessities”.
It's nearly impossible to "live on less than you make" when inflation runs at 5-6 times what real wages are increasing. You don't understand economics, do you?
@@weirdshibainu Funny - we do it, and plenty of others we know do it too. Maybe your salary just sucks and you need a better job?
@@jh26pt2 No I don't. I look at macro numbers and you should as well. It gives you an insight into the state of the overall economy. Think like an adult
@@weirdshibainu Yeah ... you're broke. Take care.
@@jh26pt2 Yeah...I'm not broke. I don't care if you take care.
And Joe Biden's response: SOMEBODY PASS THE ICE CREAM
I feel like he was not allowed to say real inflation percentages. Looking forward to seeing Tuckers interview
Not only price of food but quality too.
And still supply issues...
Bad health and medical costs is killing Americans families
Expect to see them react 😢😢😢
Life takes care of itself in many ways
It’s a principle problem by nations who eliminate God & let their masses be ruled by no gods or pagan gods or false idols
America has history with this God
Our motto alone gives witness to this
God wants to do a new thing in the earth
He answers prayer 🆕🙌🕊 if it be His will
🆕🏃🏿🏃🏿🏃🏿🏃🏿🏃🏿🏃🏿🏃🏿
Feed my people 🐠🐠🐠🐠🐠🐠🐠
If you teach them how to receive the Holy Spirit you will save souls
Christianity is linked to civility
Whose wages are up 17%? My husband is making less this year than last. No raise and the price of health insurance and house insurance has gone up!
I agree I don’t know anybody who’s wages are up 17%
@@timpingel9607 But plenty of dum dums will vote again for this disastrous Joe Bidet. If he gets back in again, forget about 17%, you’ll need a 50% salary increase just to break even with what you’re left with even now.
Oh absolutly, my monthly non- negotiable bills before the pandemic were around 4k...now is about 5.5k....I know my numbers
American S. Wake up a democratic president is not the answer
Please
Look at facts. No matter who the Republican candidate is
Please vote 🗳️ for that
Person
Every day American s. Are suffering
It harms our bottom line - we the people
We're screwed
And I.D. Theft has went nuts
People filing CC bankruptcy only to be given another card with higher interest rates.If they cant afford the smaller rate, who's the brainiac that thinks they'll pay a higher one?
Energy prices caused everything to go up and it has stayed up...just paying for home energy costs up 30 to 40 percent and more cuts into everything else
Uh.. my home energy costs did not go up anywhere near 30-40%. Then again the monthly interest off my savings account covers 100% of the electric bill .
What I heard: “People continue to impulsively overspend regardless of being aware the economy is inflated”
yeah she is taking money out of kids pockets with her overpriced concerts. LOL what a joke.
I don't want my government telling my salesman what to charge me. Are you talking to Macdonalds? Pricey hash browns. Banks are selling loans better than ever. When I was poor, I didn't eat out. We should be more worried about wages and corporate profits.
UA-cam? Why don't you quit bullying people and taking their comments down?
👍👍👍👍👍👍🤬🤬.
The debt chickens coming home to roost.
well that was an hot mess
No on carbon tax for the lower and middle class.
We are not only paying more but we are getting less and less in the products we buy. The eggs I bought two weeks ago doubled. The hash browns I buy were 32 ozs and today the same bag I opened were 26 ozs.
It's really frustrating to listen to people who aren't struggling financially try to sympathize for people who are
Why are people paying so much for cars? Stop buying these overpriced cars!!!
"Keep voting Joe." Is America foolish enough to vote him in again?
Yeah he’ll serve a second term. Already been arranged
@@sleepysleeper6390 people still think he won the election 3 years later ... you just cant help people, votes dont matter in 2024 its not 1975 in the grovy 1970s
If they vote for FJB they are voting for Marxism sadly!
November 5th may be judgement day and I am NOT talking about who wins the election.
@@sleepysleeper6390 The “fix is in.”🤯
Im single and notice my grocery bills it went from around 50 a week to 90 or so ..I often see a family with 3 teenage boys and just wonder howmuch thespendon grocerys as when i was young I could eat all the grocerys in like 2 days
Good for the farmers!
"Where's The Main Stream Media On This IMPORTANT MATTER???" (Crickets) WOW!!😮
Who cares the mainstream media has already been identified so who wants the opinion of scabs?
What’s killing me is the government. Between my tenants not paying, my lazy ex using legal aid to slam me thru child courts, even though cost calculators & she’s entitled to nothing. I then have a tax man, on top to deal with. I am out over 70k so far and I only make 65k a year. I feel like 5 years of sacrifice has been wasted.
MCD 2.3 billion profit in 2023 shameless prices
How many restaurants do they have? They don’t deserve to make a profit on each one of their restaurants??
No.. there’s a difference between profits and extortion…
I don't agree with that entirely if you have a company and you sell a product for 5$ and it cost you $4.90 to make it and sell billions around the world your profit will be quite large so you think it is extortion. come on the government takes more from us than Mcdees@@TheChubbyd07
No carbon tax
Big city, a suburb in San Diego giving me Coronado Shores, and Balboa Park for a walk. The other half, the first dozen miles on the Oregon coastline for the other half. Fortunately, I am retired. Because of violence attack on USA, oil, production, and the resulting inflation would’ve crashed my small business.
All by design
Control through chaos.
HOORAY for the farmers!!!
Until there are none left…
More cautious then anything else!
I mean i believe it because her tour alone on those ticket sales 👀😝
Are they counting people that have two jobs salaries because it sounds like bull to me
We have been building our economy on Debt since the 1970’s! Are you actually surprised that people now use debt at this level?
Inflation is down?? That’s effing hilariously untrue
At least this is some business news on the business channel.
Yesss!! We miss Trump and all the extra money we had 😢
Did you see the card swiper move, that's why i use cash only. I tore one off a counter one day because it moved.
How many people can afford $1800.00/month for a mortgage? A lot of people can not get approved for one AND they do not have the initial down payment. Strangely though you can buy a 60K car but can not get money for a 60K house.
All the Gouveneurs of America had the information that the president have and had the power to close the borders.
😢😢😢😢😢😢😢 1:15
😢😢😢😢😢😢 1:23
Duffy paying $200 for a family of 7. What are they eating beans and rice.
If you use McDonald's credit card, you get points toward free fries.
Maybe we can borrow some money from ilegal migrantss
Inflation is still waaay up & any wage increase is a pittance in comparison
Carbon Tax on the rich - ok.
A carbon tax will absolutely alter the way Taylor Swift travels, NOT
I’m an adult child and my parents have not helped me since the day I graduated. Don’t eat fast food, very simple. Don’t use a credit card. Things are tight but make smart decisions. All I see is people making purchases they couldn’t afford in the first place.
Credit cards exist due to no livable wages. Predarory capitalist criminal system forcing you to be poor.
Well said. Unfortunately this is just the beginning. More bad stuff will follow.
This dude is always grinning like he is at the comedy club
Incomes are up??? 😂
Not really just stop paying your credit cards
They tell you to get debt to get a houe now they say stay away from debt
the smartest man i have ever met is a blind man who recently became homeless because he couldn't afford rent and food on social security.
"Inflation is down employment is up", is a boldfaced lie.
Inflation is down 0.0003% from the 2 year climb of inflation by 18% and employment is up. Part time ,minimum wage crap jobs and everyone has to have three to four of these jobs to just live. So yes there statement is true when addressed in th proper context.
Government statistics are like pharmaceutical studies, you tell me what you want me to show in is very easy to do
How far would you go? ❤
Another scandal
These people have sold their souls to the devil
Actuallly Tool did more to stimulate the economy than Swift.
The good news with the economy has absolutely NOTHING to do with slow Joe.
Vote Trump no matter what or who.
Its actualy alk abouf the same as always relatively
When the bubble bursts next time it's going to not just burst one segment of the economy and it will be a domino effect throughout the world which I would consider to be the great reset. Everyone's starting over from scratch all debts eliminated eliminated including country debt
7 people 2bags? $100?...really?? Hahahaha bs much?
Seems to me Musk will figure out a way that buying a Tesla will count as a "Carbon Tax"
fox business stock market is on fire right now
Steve Moore has the worst smile ever.
Taylor Swift is ONLY an entertainer!
Not for meeee😅
Maybe people need to start making intelligent decisions concerning spending, saving and life. Stop buying things on credit you can not afford pay in full in 30 days. The government has taught people to be consumers and are rewarded for spending money they don’t have. People need to awaken from their deep slumber.
Mickey DS can give up some profit but they won't
Whos salaries are up 17% nobody i know
The county commissioners' where I live... gave themselves the raise!
Like too see SPECIAL INVESTIGATIONS
Too investigated All Congress on there free EXPECTED. MONEY
They lie
Part time jobs and government jobs
Quit worshipping Taylor Swift, she may contribute to the debt crisis as well when people buy their tickets using credit cards
Bidenomics at work
Divided? O beem er used to through the race card and May or Ad ams loves chocolate (his word for those who are predominantly governing N YC).