Debt based economy, bubble getting bigger not smaller

So this guy on CNBC Jeff Gundlach states exactly what I've been trying to tell you guys all year. The business cycle has become the debt cycle.



Basically he breaks down the actual economy behind the fake numbers we are always given. He comes from a very non partisan stance.

The deficit and the debt problems are real. Rising interest rate makes the situation worse. It's a bear market. -Gundlach

How can our economy be the best ever when people have to use credit to buy anything and everything? There's no liquidity in our economy we can't handle ANY economic downturns. At least before 08 there was some liquidity in the markets.

There will be more volatility and the down trend will continue. I'm not telling how to invest but I like put options on FAANG stocks. The tech sector is way over valued right now.

a reply to: toysforadults


Why blame credit cards? I have one but it is tied to my checking account and when I use it, it takes out MY money. The problem isn't the credit card, but the people who use it thinking that $25 dollar payment next month is nothing if it means they can go out to eat versus actually cooking a meal at home.

I only use credit when it is a Need, not a Want! I have a brother who is one of these irresponsible people who thinks a low monthly payment on credit card is worth going into debt based upon his immediate Wants versus what he really needs.

Credit cards are nothing more than crack for people who are irresponsible and spend more than they make and they blame credit cards for their debt rather than their material wants. Credit works fine for people who are responsible. Not so much for those who are irresponsible for figuring out that interest rate will own you forever.

Let's not even get into college loans which do nothing but buy you an expensive piece of paper that in most cases is a participation trophy. That's a bubble ready to pop no one wants to talk about...

a reply to: seeker1963

the problem is you thinking people are taking credit out by force of will and not to pay their basic necessities

I can show you AGAIN how people are spending their money but AGAIN you won't listen. you will just keep parroting the same platitude over and over in every thread I make related to the economy

a reply to: seeker1963

I agree, people need to live within their means. It may be pintos and rice but charging up the cards is a losing program.

I don't use credit for anything. I spend cash. I have credit cards, but just for convenience. On the rare occasion I actually use them it is for points and I pay them off immediately. I own my cars outright and I have a small home loan that would be stupid to pay back considering the low interest rate.

here's a challenge I doubt any of you will meet

show me the data, show me what people are spending their money on. otherwise you have unfounded opinions

Even if one does not have credit card debt, mortgage debt or auto loan debt, they still use debt notes to pay for what they buy. Each U.S. citizen owes @ $66,500 or @ $179,000 per each taxpayer. The interest alone is almost $10,000 per citizen for U.S. total debt.

www.usdebtclock.org...

originally posted by: toysforadults
here's a challenge I doubt any of you will meet

show me the data, show me what people are spending their money on. otherwise you have unfounded opinions

I gave you and example. My brother! He bitches and moans just like you about how he isn't making enough money, but yet he doesn't mind running up his credit debt because he FEELS he deserves to take his family out to eat at an expensive restaurant or buy something he wants.


What's your credit debt? Mine is ZERO! I pay it off or I do without. Credit is a TRAP. So if you can't pay it off within a year, you do without.


Yea, I know, it's hard for some to grasp when material things and keeping up with the jonesez is so important in chasing the ghost of happiness. I got news for you. Happiness has nothing to do with how many toys you have.

a reply to: seeker1963

show me data or bust

originally posted by: toysforadults
a reply to: seeker1963

show me data or bust

I am not a follower of BS. I don't need to told by someone else what to believe. I go by experience.

Some day wisdom will kick you in you arse and you will realize all those books you read were nothing more than someone else's opinion which you destroyed your life for believing it. Experience in life is what I go by, not someones opinion.

a reply to: seeker1963

if you aren't a follow of bs then why can't you show me the actual data that is objective that shows us where everyone or the majority of people as an average are spending their money if they have any?

this is how I know for a fact you have no idea what you're talking about. you can't provide any statistical analysis that shows us exactly what's happening with and in the economy

other than provide anecdotal evidence

a reply to: toysforadults

If folks are using credit to pay for necessities (as opposed to “luxuries”) that is a problem.

If they are having to use credit to pay for necessities, not just because they lack “fiscal common sense”, that is a red flag as far as the economy is concerned.

Does not matter how much, or what they are buying, if they cannot ultimately pay for their purchases, this train is going to go off its rails.

a reply to: Bhadhidar

precisely my point

originally posted by: toysforadults
a reply to: seeker1963

if you aren't a follow of bs then why can't you show me the actual data that is objective that shows us where everyone or the majority of people as an average are spending their money if they have any?

this is how I know for a fact you have no idea what you're talking about. you can't provide any statistical analysis that shows us exactly what's happening with and in the economy

other than provide anecdotal evidence

Then since you seem to know everything, why not dazzle us with your brilliance?

What are the statistics?

Or are you merely posting an opinion as well?

a reply to: Lumenari

you obviously have no counter argument, check my thread history if you want evidence

a reply to: toysforadults

Solution ? Kill this Money Slave Debt Economy NOW , then Create a Valued Currency Backed by REAL Wealth . It's Coming , and it is Inevitable ......

originally posted by: toysforadults
a reply to: Lumenari

you obviously have no counter argument, check my thread history if you want evidence

I merely asked you for the statistics.

That, by the way, is not an argument... it is called a request.

As far as checking your thread history, I'll take a pass, thank you.

So you have nothing to offer in the way of statistics?

a reply to: Lumenari

check my thread history I've made several assertions backed by real evidence. either you are here to formulate an argument or not

you are incapable of making arguments that aren't personal attacks, YOU CAN'T DO IT

you don't have what it takes, trust me

originally posted by: Zanti Misfit
a reply to: toysforadults

Solution ? Kill this Money Slave Debt Economy NOW , then Create a Valued Currency Backed by REAL Wealth . It's Coming , and it is Inevitable ......

totally agree, then assets value will actually be tied to something real and not fiat. prices will balanced based on the amount of effort put into earning something and this will change

originally posted by: toysforadults
a reply to: Lumenari

check my thread history I've made several assertions backed by real evidence. either you are here to formulate an argument or not

I'm not here to argue.

I think people who spend more than they make are stupid.

They put themselves into credit bondage and then bitch about it.

I think they get what they deserve.

No reason to argue that...

And for the record... paid for my land with cash, have no car payments but have 5 cars, have no electric bill, water bill, sewage bill, trash bill.

I have a business credit card that is paid monthly in full. 1 personal debit card.

I was homeless 25 years ago, with no job.

If I can do it by working hard and living within my means, anyone can.

That people can't is more a reflection of themselves than a reflection of the people who make money off of them.



ETA... I noticed that you edited your post to include a personal attack.

Classy, as always.