Comments on: Consumer Credit Has Fallen Off a Cliff http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/ Economic News, Markets Commentary, Gold, Oil and Investing Strategies. Sat, 26 May 2012 08:56:41 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: dizzyfingers http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-119408 dizzyfingers Tue, 28 Sep 2010 03:38:37 +0000 http://dailyreckoning.com/?p=19061#comment-119408 Perhaps when the corrupt pigs in D.C. are gone, spending and credit will resume. But I believe until the corrupt pigs are gone, folks will continued to keep their pockets and their pocketbooks buttoned... and why would they not? Perhaps when the corrupt pigs in D.C. are gone, spending and credit will resume. But I believe until the corrupt pigs are gone, folks will continued to keep their pockets and their pocketbooks buttoned… and why would they not?

]]> By: Bloomer http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31833 Bloomer Wed, 14 Oct 2009 04:36:31 +0000 http://dailyreckoning.com/?p=19061#comment-31833 "In theory, a genuine recovery in the United States could be led by exports. A cheaper dollar…and a cheaper workforce (in global terms)…would make the United States a better competitor." So is this why the U.S. government fiddles as the dollars burns? “In theory, a genuine recovery in the United States could be led by exports. A cheaper dollar…and a cheaper workforce (in global terms)…would make the United States a better competitor.” So is this why the U.S. government fiddles as the dollars burns?

]]> By: phelps who cant swim http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31716 phelps who cant swim Tue, 13 Oct 2009 16:59:47 +0000 http://dailyreckoning.com/?p=19061#comment-31716 Bonner sums things up nicely. Some of the best financial advice I've every received from anyone came from Bonner and Rajiva's book, Mobs, Messiahs and Markets. Bonner advised that if you wanted more money then spend less. I've taken that advice and although my income is shrinking I have more money. I've had the same feeling the English carpenter had in that I wish I had saved more money when the good times were rolling. To quote a Merle Haggard song, "are the good times really over for good". Seems like the government is "rolling down hill like a snowball headed for hell." Bonner sums things up nicely. Some of the best financial advice I’ve every received from anyone came from Bonner and Rajiva’s book, Mobs, Messiahs and Markets. Bonner advised that if you wanted more money then spend less. I’ve taken that advice and although my income is shrinking I have more money. I’ve had the same feeling the English carpenter had in that I wish I had saved more money when the good times were rolling. To quote a Merle Haggard song, “are the good times really over for good”. Seems like the government is “rolling down hill like a snowball headed for hell.”

]]> By: Zev Paiss http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31706 Zev Paiss Tue, 13 Oct 2009 16:38:06 +0000 http://dailyreckoning.com/?p=19061#comment-31706 How about we start focusing on what a post-consumer economy could look like? With the eventual constraints of resource depleation we are going to be forced to rethink how to live well without consuming till the cows come home. How about we start focusing on what a post-consumer economy could look like? With the eventual constraints of resource depleation we are going to be forced to rethink how to live well without consuming till the cows come home.

]]> By: sierra http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31695 sierra Tue, 13 Oct 2009 15:46:01 +0000 http://dailyreckoning.com/?p=19061#comment-31695 Total optimism/pessimism is a "ship of fools." Somewhere in between lies the "ship of wisdom." BB describing those who were maybe on the cusp of retiring in 2000 are now deep in the hole (ten years later) because most of that horrendous loss has not been made up and never will. Suffering the double whammy of the 2000, and the natural inclination to stick with the markets (stocks etc.) to make up the losses the crash of '07-'08 should make a believer out of you. I'll say it again, this market is only for "traders" and not for the common folk. Keep writing BB. Total optimism/pessimism is a “ship of fools.”
Somewhere in between lies the “ship of wisdom.”
BB describing those who were maybe on the cusp of retiring in 2000 are now deep in the hole (ten years later) because most of that horrendous loss has not been made up and never will.
Suffering the double whammy of the 2000, and the natural inclination to stick with the markets (stocks etc.) to make up the losses the crash of ’07-’08 should make a believer out of you.
I’ll say it again, this market is only for “traders” and not for the common folk.
Keep writing BB.

]]> By: JMR bayou bobby http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31625 JMR bayou bobby Tue, 13 Oct 2009 10:40:47 +0000 http://dailyreckoning.com/?p=19061#comment-31625 It's good to be the king, until it isn't. More on auto braking metaphor: Since we're skidding along on a solid and seemingly endless sheet of black ice, one or two taps on the brake will send the coach careening. Or not, if the driver is skilled, alert, and capable of responding quickly. It’s good to be the king, until it isn’t.

More on auto braking metaphor: Since we’re skidding along on a solid and seemingly endless sheet of black ice, one or two taps on the brake will send the coach careening. Or not, if the driver is skilled, alert, and capable of responding quickly.

]]> By: Lost & Found http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31605 Lost & Found Tue, 13 Oct 2009 08:55:49 +0000 http://dailyreckoning.com/?p=19061#comment-31605 If you brag about having been right you should confess about having been wrong, too. When you recommended gold miners as the best bet ever they went down, down and down as never before. And this is only one example where you have been dead wrong. I also noticed that at times in certain Agora publications you are talking gold down while at the same time you are talking it up in others. Talk about credibility here. And no, I have never been buying gold miners and I am not a follower of W.B. either. If you brag about having been right you should confess about having been wrong, too. When you recommended gold miners as the best bet ever they went down, down and down as never before. And this is only one example where you have been dead wrong. I also noticed that at times in certain Agora publications you are talking gold down while at the same time you are talking it up in others. Talk about credibility here. And no, I have never been buying gold miners and I am not a follower of W.B. either.

]]> By: Lost & Found http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31603 Lost & Found Tue, 13 Oct 2009 08:54:09 +0000 http://dailyreckoning.com/?p=19061#comment-31603 It is a strange blog here. Highly critical comments won't make it. It is a strange blog here. Highly critical comments won’t make it.

]]> By: Shawn Allen http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31537 Shawn Allen Tue, 13 Oct 2009 03:27:10 +0000 http://dailyreckoning.com/?p=19061#comment-31537 Bill, A Question about U.S. Debt per chart above. THe GAAP debt is owed to Americans right? Comment on the implications of debt owed to citizens verus foreign. Of the cash debt "only" $3.384 trillion is owed to foreigners. Ids it not the foreign debt that is the real concern. Debt owed to citizens can be taxed back? Much of the $11.5 trillion is owed to various U.S governments? Bill, I look for your posts daily... P.S. I am reading New Empire of Debt. Extremely informative, thought provokong and entertaining. (Bill by this comment you will, I am sure, realise what a smart guy I am) P.P.S Bill I met your son Will back in 2006 at the Delray Beach Boot Camp. He was so polite and also handsome and seemed very smart. (Bill by now I am sure you are convinced of my genius and my excellent judgement of people.) Bill, A Question about U.S. Debt per chart above.

THe GAAP debt is owed to Americans right? Comment on the implications of debt owed to citizens verus foreign.

Of the cash debt “only” $3.384 trillion is owed to foreigners. Ids it not the foreign debt that is the real concern. Debt owed to citizens can be taxed back?

Much of the $11.5 trillion is owed to various U.S governments?

Bill, I look for your posts daily…

P.S. I am reading New Empire of Debt. Extremely informative, thought provokong and entertaining. (Bill by this comment you will, I am sure, realise what a smart guy I am)

P.P.S

Bill I met your son Will back in 2006 at the Delray Beach Boot Camp. He was so polite and also handsome and seemed very smart. (Bill by now I am sure you are convinced of my genius and my excellent judgement of people.)

]]> By: Larry http://dailyreckoning.com/consumer-credit-has-fallen-off-a-cliff/#comment-31487 Larry Mon, 12 Oct 2009 21:48:48 +0000 http://dailyreckoning.com/?p=19061#comment-31487 I do not expect the stock market to face a big correction with the FED holding interest rates at 0%. With savings accounts paying negative real interest rates everyone is forced to speculate. I expect the big drop to come once the FED taps on the brakes. I have been reading your column here with interest but I think if the USA government wants to become Zimbabwe they are perfectly capable of at least doing that right. I do not expect the stock market to face a big correction with the FED holding interest rates at 0%. With savings accounts paying negative real interest rates everyone is forced to speculate.

I expect the big drop to come once the FED taps on the brakes.

I have been reading your column here with interest but I think if the USA government wants to become Zimbabwe they are perfectly capable of at least doing that right.

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