This is what is meant by the Soft Prejudice of Low Expectations:

 

America’s declining, and improving, debt picture
declining debt
Source: Marketwatch

 

Category: Credit

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Yay! We Suck Much Less Then We Used To!”

  1. pekoe says:

    Wow and wow again. This one moving graph illustrates the magnitude of the crisis, its origins, and the culprits. It was not profligate consumers, because only one sector dominates. It is not feckless students—they are pikers next to our bankers. And it is soooo not over. By the time this graph reaches the pre-crisis baseline, it looks like about 20-25 years of excess defaulted debt will have occurred! Almost an entire generation’s worth of debt! A true catastrophe.

  2. zell says:

    The cost of money is cheaper but debt has become increasingly less accessible/ affordable unless you are the Fed. et al.

  3. visualvirtuoso says:

    Everything appears to suck less…except the foamy head of student loans which seems to be growing. Doesn’t that make the future less bright?

  4. Angryman1 says:

    Looks like it will hit the pre-crisis baseline Q1 2015, the date I believe the recession will end nationally. Little surprise.

  5. Hallsto says:

    Debt is Credit, Credit is Debt. If we’re going to play this stupid game just Japan the $*@^ out already.

  6. chartist says:

    I have a friend who racked up $30K in credit card debt to AXP and BAC….He got away with paying around $8000 to settle all charges during the banking crisis…..Now, magnify this guy by oh, one million or so…..You think the federal government was going to let the banks eat those losses? No, they are spreading it out over all honest tax payers….The folks who played by the rules were the suckers.

    • If you do some research you can determine exactly how much is due to write offs and how much to repayment.

      Or, you can make unsupported, unsubstantiated, data-free guesses.

      Either way.

  7. BennyProfane says:

    Could’ve sworn Helocs were a much bigger piece of the pie.