What do you think will be the most important issue in 2008, Iraq, The Economy, Health

What will be the most important issue in the 2008 presidential election?

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#51
#51
CSpindizzy said:
What is the source of debt? I am talking originally acquired debt. You're talking about rolled over interest.

Bankruptcy is not widespread in the 18-22 range so your point still does not address debt to income.
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1. I'm also talking about originally acquired debt. I'm not talking about rolled over interest.

2. Bankruptcy is not widespread among ANY age group. 19% of bankruptcy occurs in the college aged group. The highest rate is among 40-49; second 30-39 and third is the college age group.
 
#52
#52
Then you need to get a new source because that post does not state newly acquired debt such as additional credit card purchases, etc. Looking at 4 year age brackets, most new debt is acquired in the 18-22 range.
 
#53
#53
Back to the original topic. Dems will have the hold on healthcare and the economy. The GOP will try to prop up the war on terror and Iraq. Giuliani can help the WOT part and McCain was hoping to help on the Iraq issue. I think the mood will be similar to what it was in 1999 and 2000. People will be tired of W and want something very new - even flirting with the thought of President Hillary.
 
#59
#59
CSpindizzy said:
Then you need to get a new source because that post does not state newly acquired debt such as additional credit card purchases, etc. Looking at 4 year age brackets, most new debt is acquired in the 18-22 range.
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Source: CSpin-a-pedia.

At least I used a source :hi:
 
#60
#60
You really have a problem reading what I say. Go back and read what I posted. My source is Equifax.
 
#62
#62
I'd be happy to mail you the full explanation. I don't have a scanner so getting it online is a bit of a problem.

Is it really that difficult to believe this incremental breakdown? Or are you still sticking by the MSN article?
 
#63
#63
CSpindizzy said:
I'd be happy to mail you the full explanation. I don't have a scanner so getting it online is a bit of a problem.

Is it really that difficult to believe this incremental breakdown? Or are you still sticking by the MSN article?
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It is very difficult to believe.

The MSN article only counts consumer debt (excludes mortgages). Therefore it greatly underestimates the amount of debt acquired after the age of 22. Even with that as the case, the numbers show other age groups have more than doubled the amount of debt of the youngest bracket 18-29 which overestimates the amount acquired for 18-22 (a subset of the reported group). Even if these people didn't retire a single penny of that debt, they still more than double the amount they carry later in life - add in mortgage debt and it's not even close.

There is nothing suggesting that the substantial debt increase is due to interest charges - student loans and the odd credit card situation are the only situations where the actual debt increases during the life of the debt (student loans while under forebearnance and credit cards if minimum payments are calculated below monthly interest charges). Student loans are likely a wash since once you are out of school, they go into payment (debt reduction). If you keep the in forebearance due to grad school, you are probably accumulating NEW debt to pay for that.

There is virtually no face validity to the claim that most debt is incurred at the ages of 18-22. Other than your assertion to the contrary, I've found no evidence to support the claim.
 
#65
#65
Student loans were only a portion of what I mentioned. I'm not sure why you only mention that and keep harping on that. Most students who go for a 4 year degree do not even go to grad school so not sure why you even mention that.

Again, you keep posting articles that do not prove your point. None of this actually pinpoints when this debt was first incurred. Actually I would venture to say that much of this debt is just rolled over and the growth could even be caused by added interest. Taking a look at your new chart here, it seems that subtracting the difference from the previous bracket, the rate of debt in the first range is the highest with the exception of the 60+, no doubt from healthcare costs.

Other than your very vague charts here, there is nothing to support your claim. And God forbid just because you cannot find it, it must not be true. I offered to send you some proof. I have a nice little Equifax report here. I'd even be happy to give you the number of someone there to speak with. Perhaps you can send them links of vague info and argue with them.
 
#66
#66
do you really want to rely on Equifax?

Consumer complaints about Equifax

Equifax to Pay $250,000 to Settle Charges It Blocked and Delayed Consumer Calls

For the second time in three years, Equifax is in trouble for failing to promptly answer consumer inquiries about their credit reports.

Equifax Credit Information Services, Inc. will pay $250,000 to settle Federal Trade Commission charges that its blocked-call rate and hold times violated provisions of an earlier consent decree that settled a 2000 lawsuit for violations of the Fair Credit Reporting Act (FCRA). That lawsuit settled charges that Equifax did not have sufficient personnel available to answer the toll-free phone number provided on consumers� credit reports.
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#67
#67
Wow. So because they were understaffed on calls they must be wrong on credit and debt theory. I'm sorry. I retract my claim. I will also not make any claims about any federal government agency or member of Congress. We cannot rely on any of them.

Oh, and I'll have to stop calling Dominos here in Monroe. They put me on hold constantly.
 
#70
#70
Hey we now have a Super Wal-Mart, Home Depot, and Applebees.....soon to get a Chic-Fil-A and an IHOP
 
#71
#71
volinbham said:
Not sure where you see persistant inflation - it has been under control for the last 2 administrations.

In any economic cycle, there will be people feeling the crunch and others doing better than ever. The current economy is strong, it may weaken some but even then would still be considered good.
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I think you're understating the inflation risk that's out there. I mean sure gas is up 40-50 cents on the year and the price of corn and soy have also jumped significantly, but those items obviously don't represent the entire spectrum of goods measured by the PPI.

For the time being it seems the world is content to absorb as much of our debt as we can throw at them, which supports current price levels and lower inflation for most of the things we like to buy. One has to wonder whether this can continue with the continuing decline of the value of the dollar and what seems to be a continued and disproportionate acceleration of the prices of the basic inputs of manufacturing.

The fed chairman echoed at least a few of these concerns when he held steady on the prime rate earlier today.

Considering all of the spending we're undertaking right now to support the war in Iraq and the tax cuts, etc, I don't see how you can't see increased inflation (in some items) and inflationary risk in general.
 
#73
#73
jdsa said:
I think you're understating the inflation risk that's out there. I mean sure gas is up 40-50 cents on the year and the price of corn and soy have also jumped significantly, but those items obviously don't represent the entire spectrum of goods measured by the PPI.

For the time being it seems the world is content to absorb as much of our debt as we can throw at them, which supports current price levels and lower inflation for most of the things we like to buy. One has to wonder whether this can continue with the continuing decline of the value of the dollar and what seems to be a continued and disproportionate acceleration of the prices of the basic inputs of manufacturing.

The fed chairman echoed at least a few of these concerns when he held steady on the prime rate earlier today.

Considering all of the spending we're undertaking right now to support the war in Iraq and the tax cuts, etc, I don't see how you can't see increased inflation (in some items) and inflationary risk in general.
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One of the primary tools for fighting inflation is the fed rate -- by holding it steady, the Fed is signaling that inflationary pressures are mild at best. When the Fed has inflation concerns, they raise the rate (ala Greenspan) to cool down the pressure.
 
#74
#74
CSpindizzy said:
Student loans were only a portion of what I mentioned. I'm not sure why you only mention that and keep harping on that. Most students who go for a 4 year degree do not even go to grad school so not sure why you even mention that.

Again, you keep posting articles that do not prove your point. None of this actually pinpoints when this debt was first incurred. Actually I would venture to say that much of this debt is just rolled over and the growth could even be caused by added interest. Taking a look at your new chart here, it seems that subtracting the difference from the previous bracket, the rate of debt in the first range is the highest with the exception of the 60+, no doubt from healthcare costs.

Other than your very vague charts here, there is nothing to support your claim. And God forbid just because you cannot find it, it must not be true. I offered to send you some proof. I have a nice little Equifax report here. I'd even be happy to give you the number of someone there to speak with. Perhaps you can send them links of vague info and argue with them.
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I think the problem is your inability to correctly read the charts.

My guess is that you are doing the same with your nice little Equifax report.

As to when incurred and the impact of roll-over -- you are reaching there. I mentioned student loans since they are one form of debt that can actually grow via deferred interest. However, the deferment is unlikely to continue after school is completed (e.g. 22) therefore, the growth in debt for someone older is NOT based on deferred interest. Credit cards are the other primary form where interest can grow the debt. However, most borrowers do not have CC's where the minimum payment is less than the monthly interest charge. To suggest that the reason the average debt among older groups is because the debt they acquired at age 18-22 grew via accrued interest is hardly defensible. Again, the charts I've included don't even count mortgage debt.

If you are serious about sending the Equifax report, I'll Pm my address.
 
#75
#75
Inability? How can you come to your conclusion based on the two charts you've posted? There is not enough info on those charts to get your conclusion. No matter how creative your imagination is, the info is not there to get your conclusion.

Again, since those who go to grad school are a small percentage of those who have gone to high education schooling, what is your point?

I did not say ALL of that is rolled over from interest. What I am saying is that it COULD be and this chart does not break that down. YOU are assuming what each bracket's debt actually is and not taking into account what it could be. You have drawn some elaborate conclusion from a few bars while I have said those bars COULD actually include rolled over debt from interest from a previous age bracket.

It is YOU who have read just a little too much into the bars, somehow taking things that are not there and claiming it is fact.

Give me a broken down and detailed chart and I will be happy to consider your viewpoint. But taking some vague bars that do not explain acquired debt in each range OR rolled over debt from previous ranges.

I'll be happy to send you the Equifax report. Please send me something detailed that explains your viewpoint.
 
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