tag:blogger.com,1999:blog-6616959642391988608.post9170614268159563600..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Households' financial burdens continue to easeScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-6616959642391988608.post-71308733335668179372011-06-22T08:32:28.334-07:002011-06-22T08:32:28.334-07:00Re: student loans. According to the Fed's Cons...Re: student loans. According to the Fed's Consumer Credit Release, I believe student loans are included in the data shown in the chart.<br /><br />http://www.federalreserve.gov/releases/g19/current/g19.htmScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34239937391909142302011-06-22T08:22:10.429-07:002011-06-22T08:22:10.429-07:00Re: data source. All my charts indicate the source...Re: data source. All my charts indicate the source of their data. The Fed is the source for this chart.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-77048194374488468352011-06-22T07:52:39.141-07:002011-06-22T07:52:39.141-07:00Scott, Are you getting this data from the FRB?Scott, Are you getting this data from the FRB?Tell-Tale Investorhttps://www.blogger.com/profile/02674549122975426531noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-3923292554029990562011-06-21T07:02:29.166-07:002011-06-21T07:02:29.166-07:00Bill Gross out with an article suggesting student ...Bill Gross out with an article suggesting student loan debt around $1T.<br /><br />That will certainly have a big impact on your chart...Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-81411359522149314552011-06-20T20:05:52.846-07:002011-06-20T20:05:52.846-07:00Thank you, Professor Grannis! Although this index...Thank you, Professor Grannis! Although this index does not produce large movements, it certainly was suggesting America had entered the fog, when the index read 17.55 its highest ever in 2007, Q3 just months before the Bushession...Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-18108344601525425742011-06-20T07:57:56.342-07:002011-06-20T07:57:56.342-07:00At this point in the global debt game, it is proba...At this point in the global debt game, it is probably better to look at total consumer debt including education etc.<br /><br />Most of the new lending in the past few years was almost entirely on education. When these people graduate in a year or two without good job prospects, the $100K in loans will seem like an albatross around their necks and the economy.Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-81737847549288628052011-06-19T11:01:24.772-07:002011-06-19T11:01:24.772-07:00Hans: This chart reflects averages for all househo...Hans: This chart reflects averages for all households. Disposable income is income after taxes. If the average disposable income for a family is 5000/mo., then the chart says that the average family is paying about $600/mo for its mortage and consumer (e.g., credit card) debt. Many families of course have no mortgage debt, so many pay much more than that.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-67516284825662566312011-06-19T07:46:02.523-07:002011-06-19T07:46:02.523-07:00OT, M1 in Germany looking pretty ugly.
http://www....OT, M1 in Germany looking pretty ugly.<br />http://www.bundesbank.de/statistik/statistik_zeitreihen.en.php?first=1&open=&func=row&tr=TVS301J&showGraph=1Family Manhttps://www.blogger.com/profile/10304538166086313103noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-71010731542533414592011-06-19T06:33:07.036-07:002011-06-19T06:33:07.036-07:00I am sorry, however, I find this chart difficult t...I am sorry, however, I find this chart difficult to believe...<br /><br />What is meant by disposable? Does this mean income after the mob takes its cut of ones labor?<br /><br />Either way, if a consumer has $5000.oo in monthly income, according to this chart they are spending a grand total of $600.oo on both their bank rent and consumer debt?<br /><br />Something does not jive !Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16838100432101929082011-06-18T13:27:18.874-07:002011-06-18T13:27:18.874-07:00j: I believe student loans are not included. Accor...j: I believe student loans are not included. According to the Fed: "Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt."Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37416770841899703522011-06-18T09:56:04.369-07:002011-06-18T09:56:04.369-07:00Scott,
Wondering if these numbers for household de...Scott,<br />Wondering if these numbers for household debt include student loans outstanding?<br />Thxjjhttps://www.blogger.com/profile/00382970468577051096noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-62916438355686276712011-06-17T17:26:24.212-07:002011-06-17T17:26:24.212-07:00Scott, FAS 157 is still not in place and the banks...Scott, FAS 157 is still not in place and the banks haven't marked to market so I doubt they have suffered tremendously. Most of the debt reduction has been thru bankruptcy and foreclosure...<br /><br />extend and pretend...economic viagra is alive and well..barely noticeable here<br />http://research.stlouisfed.org/fred2/series/TOTALSLhonestcreditguyhttps://www.blogger.com/profile/04753136939700776989noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73685038023386529912011-06-17T12:57:33.785-07:002011-06-17T12:57:33.785-07:00From David Beckworth's blog:
So did Milton Fr...From David Beckworth's blog:<br /><br />So did Milton Friedman actually recommend doing successive rounds of quantitative easing until nominal spending returns to normal levels? Let's have Milton Friedman speak for himself. Here is an excerpt from a Q&A following a 2000 speech he delivered at the Bank of Canada (my bold below). <br />David Laidler: Many commentators are claiming thatBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-40538267249928192942011-06-17T09:25:38.944-07:002011-06-17T09:25:38.944-07:00Are you capturing the rise in debt to fund private...Are you capturing the rise in debt to fund private education? This space is possibly entering a bubble supported by government policies...Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-5621663201068824772011-06-16T18:06:20.615-07:002011-06-16T18:06:20.615-07:00"The banks and institutional investors who ho..."The banks and institutional investors who hold most of the mortgages have suffered tremendously already"<br /><br />Oh dear.Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-30846103402525185082011-06-16T17:12:01.273-07:002011-06-16T17:12:01.273-07:00Undoubtedly, foreclosures have played a role in th...Undoubtedly, foreclosures have played a role in the deleveraging process. The financial markets, however, long ago figured out the level of foreclosures, and marked down MBS accordingly. Thus, the losses have been absorbed, for the most part, by the system already. Defaults are a zero-sum game: one party wins, the other loses. The banks and institutional investors who hold most of the mortgages Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-15122975526415617332011-06-16T15:24:11.602-07:002011-06-16T15:24:11.602-07:00We are slowly getting out of the woods. Jeez, I wi...We are slowly getting out of the woods. Jeez, I wish the Fed was more aggressive is pursuing economic growth. <br /><br />And I wish Obama would seize an historic opportunity to make the D-Party into a pro-business party, and alter regs and taxes that hurt business. I think the time is ripe. <br /><br />Just as I wished Bush had seized opportunities to reform the military to current needs (and Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-80823717835290776332011-06-16T15:08:06.428-07:002011-06-16T15:08:06.428-07:00This comment has been removed by the author.pufferhttps://www.blogger.com/profile/02594945926620839004noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-64047513121326346832011-06-16T15:07:32.894-07:002011-06-16T15:07:32.894-07:00Isn't this "debt reduction" largely ...Isn't this "debt reduction" largely due to the tidal wave of foreclosures thus shifting the burden of mortgage payments, insurance, and real estate taxes from households onto the banks? I would think a large percentage of that deleveraging would be due to this phenomenon. That, and the fact that those that are foreclosed on are able to live rent free for several yrs before being pufferhttps://www.blogger.com/profile/02594945926620839004noreply@blogger.com