Credit Card Debt Rises to $1.26T, Nearing All-time Record
Americans' credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter of this year, according to new data Tuesday from the Federal Reserve Bank of New York.
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LampLighter
Joined 2013/04/13Visited 2026/08/14
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Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. https://to.pbs.org/4wnlIAe[image or embed] -- PBS News (@pbsnews.org) 11:00 PM · Aug 11, 2026
Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. https://to.pbs.org/4wnlIAe[image or embed]
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More from the article ...
... Strong consumer spending typically results in higher credit card debt. Economists have also pointed to rising prices, including for essentials like groceries and gas, as a factor behind rising card balances. Many households are also behind on their card payments. The percentage of credit card balances that were more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026. "There are a lot of households who live paycheck to paycheck, and it just needs one thing to happen to them that could lead to a delinquency," New York Fed researchers said on a call with reporters on Tuesday. But researchers also noted the higher delinquency rates can be attributed to old outstanding debts rather than people falling behind on new charges to their cards. ...
Many households are also behind on their card payments.
The percentage of credit card balances that were more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026.
"There are a lot of households who live paycheck to paycheck, and it just needs one thing to happen to them that could lead to a delinquency," New York Fed researchers said on a call with reporters on Tuesday.
But researchers also noted the higher delinquency rates can be attributed to old outstanding debts rather than people falling behind on new charges to their cards. ...
#1 | Posted by LampLighter at 2026-08-12 03:03 PM | Reply
Buy now, pay later debt is piling up, and groceries are driving it
kstp.com
Behold pedo 47's golden age.
#2 | Posted by reinheitsgebot at 2026-08-12 03:15 PM | Reply
What could possibly go wrong?
#3 | Posted by LegallyYourDead at 2026-08-12 08:49 PM | Reply
BNPL apps. WTF?
#4 | Posted by Dbt2 at 2026-08-13 07:48 AM | Reply
#1 | Posted by LampLighter at 2026-08-12 03:03 PM | Reply | Flag:
In simpler terms, COVID era government spending triggered 50-year inflation causing people to go into massive debt.
#5 | Posted by lfthndthrds at 2026-08-13 10:22 AM | Reply
" In simpler terms, COVID era government spending triggered 50-year inflation causing people to go into massive debt."
And, if Trump had his way, the inflation would've been worse: Trump wanted a third stimulus that was 42% larger than Biden's.
Any honest broker would admit as much. Why can't you?
#6 | Posted by Danforth at 2026-08-13 10:53 AM | Reply
In simpler terms, COVID era government spending triggered 50-year inflation causing people to go into massive debt. #5 | Posted by lfthndthrds
In simple terms, why did you vote for the Big Spender?
#7 | Posted by snoofy at 2026-08-13 11:20 AM | Reply
In simpler terms, COVID era government spending
So "Warp speed" was bad?
#8 | Posted by Alexandrite at 2026-08-13 11:21 AM | Reply
Pedo 47 Pocketed $2.2 Billion in 2025 While American Families Lost $219 Billion to Rising Costs
meidasnews.com
#9 | Posted by reinheitsgebot at 2026-08-13 11:52 AM | Reply
@#6 ... And, if Trump had his way, the inflation would've been worse ...
In a way, Pres Trump did get his way: tariffs and his Iran War of Choice, both of which have triggered inflation increases.
#10 | Posted by LampLighter at 2026-08-13 03:01 PM | Reply | Newsworthy 1
#7 | Posted by snoofy at 2026-08-13 11:20 AM | Reply | Flag
You play an idiot's role well.
Did you take the warp-speed shot after Kamala Harris said she wouldn't.
#11 | Posted by lfthndthrds at 2026-08-13 03:45 PM | Reply
Did you take the warp-speed shot after Kamala Harris said she wouldn't. #11 | Posted by lfthndthrds
I can't remember if I took the Warp Speed one or the other company that turned down Trump's money.
You agreed with Kamala on that too... It's a wonder you didn't vote for her...
#12 | Posted by snoofy at 2026-08-13 03:47 PM | Reply
#8 | Posted by Alexandrite at 2026-08-13 11:21 AM | Reply | Flag:
Did you take Trump's warp-speed shot after Kamala warned she wasn't taking it? The way you clowns talk about it, you owe your lives to Trump.
#13 | Posted by lfthndthrds at 2026-08-13 03:47 PM | Reply
I thought fauci killed millions of people, and it's a plandemic?
#14 | Posted by Alexandrite at 2026-08-13 03:52 PM | Reply | Newsworthy 1
The way you clowns talk about it, you owe your lives to Trump. #13 | Posted by lfthndthrds
Who doesn't owe their lives to government spending, in one way or another? Ever fly on a plane that didn't crash because of ATC?
You don't strike me as a grateful person, but when you simpletons tell soldiers "thank you for your service," the way you clowns talk about it, you owe your lives to the government.
#15 | Posted by snoofy at 2026-08-13 03:52 PM | Reply
Operation Warp Speed was perhaps the one good thing Trump did. So yeah, he could and should take credit for it.
I'd challenge you to say something equally nice about Kamala, but you'd fail because you're a partisan douche.
#16 | Posted by Alexandrite at 2026-08-13 03:54 PM | Reply
COVID era government spending triggered 50-year inflation causing people to go into massive debt. #5 | POSTED BY LFTHNDTURDS
"Mission Accomplished!" -Trump
"The Trump administration disband a specialized White House pandemic preparedness team two years before the COVID-19 outbreak. In May 2018, then - National Security Advisor John Bolton restructured the National Security Council (NSC) and dissolved the Directorate for Global Health Security and Biodefense."
Remember how proud Trump was to have his signature on the check?
"In April 2020, President Donald Trump's name was printed on millions of government - issued COVID-19 stimulus checks. Instead of a legal signature, which was barred by law and protocol, his name - "President Donald J. Trump" - appeared on the left side in the memo section of the physical paper checks."
#17 | Posted by ClownShack at 2026-08-13 03:56 PM | Reply
Operation Warp Speed was perhaps the one good thing Trump did.
He should have adamant his supporters get it.
Instead he suggested hydroxychloroquine, ivermectin, bleach and bright lights.
Also, that it would simply go away in warm weather.
Trump is a virus.
#18 | Posted by ClownShack at 2026-08-13 03:58 PM | Reply
As for Harris:
During the 2020 Vice Presidential Debate, Harris stated, "If the public health professionals, if the doctors, if Dr. Fauci, if the doctors tell us that we should take it, I'll be the first in line to take it, absolutely. But if Donald Trump tells us that we should take it, I'm not taking it".
#19 | Posted by ClownShack at 2026-08-13 04:03 PM | Reply
"Operation Warp Speed was perhaps the one good thing Trump did."
Putting Dr. Fauci on the White House Coronavirus Task Force was another good thing Trump did.
Republicans can't agree with me on that one, though.
#20 | Posted by snoofy at 2026-08-13 04:10 PM | Reply
@#2 ... Behold pedo 47's golden age. ...
Back on topic ...
Well. the economy may be the Golden Age for Pres Trump's wealthy supporters and his billionaire-loaded Cabinet.
But for the working American, it seems to be difficult to put food on the table.
#21 | Posted by LampLighter at 2026-08-13 04:14 PM | Reply
Speaking of the economy, how come none of you libbies here are not heralding the SDS?
You know, those same people who want to tear down the US Constitution and replace with Socialism, which it seems many here already are for much of their agenda???
Also, for any of your socialists here - how come: scontent.ftpa1-1.fna.fbcdn.net
#22 | Posted by MSgt at 2026-08-13 04:18 PM | Reply
how come none of you libbies here are not heralding the SDS?
What the hell is the SDS?
#23 | Posted by ClownShack at 2026-08-13 04:33 PM | Reply
" In a way, Pres Trump did get his way: tariffs "
If Gyna paid the tariffs, like Trump claimed, how come American companies got the tariff rebates???
#24 | Posted by Danforth at 2026-08-13 04:46 PM | Reply
Good question.
#25 | Posted by REDIAL at 2026-08-13 05:02 PM | Reply
What the hell is the SDS? ~ Clown
Students for a Democratic Society (SDS) were a national student activist organization in the United States during the 1960s and was one of the principal representations of the New Left. en.wikipedia.org
#26 | Posted by oneironaut at 2026-08-13 05:02 PM | Reply
I'd challenge you to say something equally nice about Kamala.
#16 | Posted by Alexandrite at 2026-08-13 03:54 PM | Reply | Flag:
I'd like to say I really appreciate her leading the charge on being unburdened by what has been. That's life-changing stuff.
#27 | Posted by lfthndthrds at 2026-08-13 05:03 PM | Reply
Good question. #25 | Posted by REDIAL
Wouldn't expect a Canadian to know. But given that I know what it is ... I do wonder about Canadian education system and whatever the ---- Clown did for an education.
#28 | Posted by oneironaut at 2026-08-13 05:04 PM | Reply
What the hell is the SDS? Good question.
#25 | Posted by REDIAL at 2026-08-13 05:02 PM | Reply | Flag:
Code speak for Ala Akbar?
#29 | Posted by lfthndthrds at 2026-08-13 05:04 PM | Reply
I'd challenge you to say something equally nice about Kamala. #16 | Posted by Alexandrite a
She took on the root causes of immigration in Central and South America. Wasn't her job to watch the BidenBorderBonanza
#30 | Posted by oneironaut at 2026-08-13 05:05 PM | Reply
Code speak for Ala Akbar? #29 | Posted by lfthndthrds a
Add LeftOverTurds to my education question!
#31 | Posted by oneironaut at 2026-08-13 05:06 PM | Reply
Apologies as was in a rush to get out the door, so did not proofread:
Should have been DSA which, knowing you I'd expect you would be a charger member ; )
Also, here is what the SDS was: AI Overview SDS stands for Students for a Democratic Society. It was a major American student activist organization during the 1960s and a primary representation of the political "New Left.
AI Overview The Students for a Democratic Society (SDS) began as a nonviolent, reform-minded campus group in 1960. However, as the Vietnam War escalated, the national organization grew increasingly militant. By 1969, internal fracturing led a radical faction called the Weathermen to split off and commit acts of domestic terrorism.
Domestic terrorism by lefties - see nothing new about that....
#32 | Posted by MSgt at 2026-08-13 05:11 PM | Reply
MSG: "how come none of you libbies here are not heralding the SDS?"
OneTrumper: "He's talking about the 1960s!"
Thanks, stupid.
#33 | Posted by ClownShack at 2026-08-13 05:11 PM | Reply
BTW, doing my best to not increase CC debt as pay off in full each month and have not had to pay any interest in the decades I've had the card. Smart budgeting always pays off.
#34 | Posted by MSgt at 2026-08-13 05:13 PM | Reply | Newsworthy 1
Should have been DSA
You mean Mamdani, who has and is delivering on his campaign promises?
I'd love more Mamdanis in America.
#35 | Posted by ClownShack at 2026-08-13 05:15 PM | Reply
But given that I know what it is ...
Right after you looked it up.
#36 | Posted by REDIAL at 2026-08-13 05:19 PM | Reply | Newsworthy 1
You know, those same people who want to tear down the US Constitution and replace with Socialism #22 | Posted by MSgt
Trump is replacing the Constitution with National Socialism, and you couldn't be happier about it.
Every innocent child sent to a camp is one extra Z in your sleep bubble at night.
#37 | Posted by snoofy at 2026-08-13 05:57 PM | Reply | Newsworthy 1
I saw "Student for Democratic Socialism" when I used google too.
But I wasn't dumb enough to believe that's what MSG was talking about.
(It was obvious he meant DSA. Just felt fun to poke at his mistake. Wasn't expecting OneTrumper to rush in with stupid.)
#38 | Posted by ClownShack at 2026-08-13 06:05 PM | Reply
By 1969, internal fracturing led a radical faction called the Weathermen to split off and commit acts of domestic terrorism.
#32 | Posted by MSgt
Yeah nothing new about it. Quite old in fact. You're digging back 60 years, while right wing fascists stormed the capitol to overthrow democracy 5 years ago and were praised as heroes by the fascist in the white house today.
#39 | Posted by SpeakSoftly at 2026-08-13 06:18 PM | Reply | Newsworthy 1
#34 | Posted by MSgt a
So why do you vote for the party that does the opposite of that when in power?
#40 | Posted by SpeakSoftly at 2026-08-13 06:19 PM | Reply
@#23 ... What the hell is the SDS? ...
Well, when I see those initials, I think of Students for a Democratic Society from back in the day.
Students for a Democratic Society en.wikipedia.org
... Students for a Democratic Society (SDS) were a national student activist organization in the United States during the 1960s and was one of the principal representations of the New Left. Disdaining permanent leaders, hierarchical relationships and parliamentary procedure, the founders conceived of the organization as a broad exercise in "participatory democracy". From its launch in 1960, it grew rapidly in the course of the tumultuous decade, with over 300 campus chapters and 30,000 supporters recorded nationwide by its last national convention in 1969.[1] ...
From its launch in 1960, it grew rapidly in the course of the tumultuous decade, with over 300 campus chapters and 30,000 supporters recorded nationwide by its last national convention in 1969.[1] ...
YMMV
#41 | Posted by LampLighter at 2026-08-13 06:30 PM | Reply
@#34 ... BTW, doing my best to not increase CC debt as pay off in full each month and have not had to pay any interest in the decades I've had the card. Smart budgeting always pays off. ...
It is not "smart budgeting."
Not paying the rent so your family can eat?
Is that what you call "smart budgeting?"
What "smart budgeting" actually is --- is having an income that is equal or greater than your expenses.
So, what then happens if inflation is outpacing your wage increases, to the point of you not having enough money to put food on the table for your family...
What is your solution?
How will "smart budgeting" solve that gap between income and expenses?
#42 | Posted by LampLighter at 2026-08-13 06:37 PM | Reply
@#32 ... Domestic terrorism by lefties ...
I'm not yet willing to go that far.
The 60's and the Vietnam War represented a strange time in our history.
Maybe start a new thread if you'd like to discuss it?
#43 | Posted by LampLighter at 2026-08-13 06:43 PM | Reply
@#39 ... Yeah nothing new about it. Quite old in fact. You're digging back 60 years, while right wing fascists stormed the capitol to overthrow democracy 5 years ago and were praised as heroes by the fascist in the white house today. ...
My guess here is that MAGA seems to want to deflect away from the economy that Pres Trump has labeled as the "Golden Age."
So, the real question seems to be emerging ...
As consumers seem to be relying more and more upon debt to buy essentials, why does MAGA seem to want to avoid talking about the economy?
#44 | Posted by LampLighter at 2026-08-13 06:47 PM | Reply
See, Liberals!? Americans are spending more than ever before!
Glory to Chairman Trump! Ten thousand years!
#45 | Posted by e1g1 at 2026-08-13 10:43 PM | Reply
How much of the stock market is tied to consumerism?
Is it possible that dividends are only promises to pay... eventually... unless they can't?
Do deficits really matter?
#46 | Posted by RightisTrite at 2026-08-13 11:04 PM | Reply
@#46 ... How much of the stock market is tied to consumerism? ...
The stock market does not represent the economy.
And the economy does not represent the stack market.
While there may be some ties between the two, those ties are not as solid as many (most) think.
For example, ...
The economy is here and now.
The stock market tries to bet upon what the future might be, usually 6-12 months from the present.
#47 | Posted by LampLighter at 2026-08-14 12:00 AM | Reply
"What the hell is the SDS?"
In his case: Stupidity Disorder Syndrome.
#48 | Posted by Danforth at 2026-08-14 12:53 AM | Reply
#5 | POSTED BY LFTHNDPEDO
So a phenomenon that was resolved is still responsible for the s*^% economy your trash, failed worldview has brought on us?
#49 | Posted by jpw at 2026-08-14 02:47 AM | Reply
#13 | POSTED BY LFTHNDPEDO
No, you're just a f*^%ing idiot who bases their opinions on scattered, singular data points because you're three functional neurons can't piece together more than that.
#50 | Posted by jpw at 2026-08-14 02:49 AM | Reply
Wouldn't expect a Canadian to know. But given that I know what it is ... I do wonder about Canadian education system and whatever the ---- Clown did for an education. #28 | POSTED BY ONEIRONAUT
You know what it is because you're a stupid piece of s*^% who never misses their marching orders and talking points.
#51 | Posted by jpw at 2026-08-14 02:52 AM | Reply
#32 | POSTED BY MSGT
I really hope this worthless piece of s^*% doesn't have a pension. What a waste of tax dollars.
#52 | Posted by jpw at 2026-08-14 02:53 AM | Reply
@#46 ... How much of the stock market is tied to consumerism? ... The stock market does not represent the economy... B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S. B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S.B.S. blah blah blah... #47 | Posted by LampLighter at 2026-08-14 12:00 AM | Reply EYE ROLL
So when Chevrolet or Ford stops selling as many vehicles... as they used to... because people can no longer afford them... because they don't make enough money to get credit... and stocks drop as a result... so they fire people and stocks go up... but the problems remain the same... with a smaller worker base... trying to sell to a smaller customer base... and you're telling me I'm going to have to wait 6-12 months... to see if what my eyes are looking at now... is real.
nnnnnnnnkay... ppffffttttt
You still didn't answer my question.
#53 | Posted by RightisTrite at 2026-08-14 07:03 AM | Reply
-So, what then happens if inflation is outpacing your wage increases, to the point of you not having enough money to put food on the table for your family... What is your solution?
What's your solution?
My solution will only offend you and plenty others here so let's not go there.
What's your solution if your wage increases are not covering the inflation impacting your expenses?
You understand we all face that here, right? Not just you or some poor version of you. All of us.
#54 | Posted by eberly at 2026-08-14 08:21 AM | Reply
-Do deficits really matter?
Is your question do they actually matter or do people really give a crap?
#55 | Posted by eberly at 2026-08-14 08:23 AM | Reply
I thought fauci killed millions of people, and it's a plandemic? #14 | Posted by Alexandrite at 2026-08-13 03:52 PM | Reply | Flag:
It's a bio-weapon that escaped the lab after US Gain of Function research, but it's not a dangerous bio weapon at all, you don't need a vaccine, and masks are a waste of time.
The real bio-weapon is actually the vaccine. It kills millions and slaughters unborn babies. This plot is so nefarious, somebody planned out to have a non-lethal bio-weapon escape the lab to trick you into taking a Trump funded bio-weapon disguised as a vaccine.
#56 | Posted by sitzkrieg at 2026-08-14 08:42 AM | Reply
and it's all Biden's fault.
#57 | Posted by sitzkrieg at 2026-08-14 08:42 AM | Reply
As the prices of American cars go up consumers are going to demand that tariffs end and thereby allow us to buy cars from ... .OMG! China! I believe part of the reason Trump and others have started "the New Pjony Red Scare of 2026!" The Commies are coming! Never mind that the Commies are coming with better cars for much less money! The United States and Western Europe are going to have to learn how to compete with China and corporate America won t like it but American consumers, who are also voters, will demand free trade! Are capitalists now opposed to free trade ?
#58 | Posted by danni at 2026-08-14 10:17 AM | Reply
57
Nice reverse psychology right there. Routinely, we blame poor individual choices on who lives at 1600 Penn.
Which is some of the best entertainment provided on this place, BTW.
#59 | Posted by eberly at 2026-08-14 10:18 AM | Reply
When did Sitz join the MAGAcrazids? Was he always one of "them?"
#60 | Posted by danni at 2026-08-14 10:19 AM | Reply
Eberly doesn't think Americans would be buying superior EVs right now for $10,000? I know I'd own one right now! Read up on BYD.
#61 | Posted by danni at 2026-08-14 10:23 AM | Reply
-Eberly doesn't think Americans would be buying superior EVs right now for $10,000?
What the ---- are you talking about?
How far up your colon did you have to reach for that one?
#62 | Posted by eberly at 2026-08-14 10:27 AM | Reply
Blaming the reduction in personal choice options isn't the basic purpose of tariffs? Who created the tariffs that raise the price of an EV made in China from $10,000 to !25 ,000? Looks to me the "personal choice" disappears when the price of the "choice" more than doubles because of tariffs imposed
#63 | Posted by danni at 2026-08-14 10:45 AM | Reply
#61 | Posted by danni at 2026-08-14 10:23 AM | Reply | Flag:
Joe Biden doesn't believe you should by BYD. Destroying the US auto industry by letting China flood the market is not part of any wing of the Dem party platform.
#64 | Posted by sitzkrieg at 2026-08-14 11:41 AM | Reply
One of the few things that's bi-partisan, massive tariffs on Chinese EV.
To prevent them from assembling in Mexico and shipping here... more tarrifs.
#65 | Posted by sitzkrieg at 2026-08-14 11:43 AM | Reply
#62 | POSTED BY EBERLY
How far up there were you?
#66 | Posted by donnerboy at 2026-08-14 12:08 PM | Reply
Some Americans are apparently ok with paying exorbitant prices for EVs.
I bet if they were allowed to be sold here more could afford them. And American manufacturers world adjust to the market accordingly.
And that would be just awful. For the fossil fuels industries.
#67 | Posted by donnerboy at 2026-08-14 12:12 PM | Reply | Newsworthy 1
#52 | POSTED BY JPW AT 2026-08-14 02:53 AM | REPLY: Ah, but I do have retirement pay, and I consider it YOUR tax dollars that are paying me the 1st of each month. Have a nice day : )
#68 | Posted by MSgt at 2026-08-14 12:13 PM | Reply
World =would.
Thx Siri!
#69 | Posted by donnerboy at 2026-08-14 12:13 PM | Reply
What the hell is the SDS? #23 | Posted by ClownShack et al.
Youngsters.
Or no knowledge of 1960s turmoil.
Or The Big Lebowski.
#70 | Posted by Dbt2 at 2026-08-14 12:21 PM | Reply
Port Huron Statement:
en.wikipedia.org
#71 | Posted by Dbt2 at 2026-08-14 12:22 PM | Reply
Some Americans are apparently ok with paying exorbitant prices for EVs. I bet if they were allowed to be sold here more could afford them. And American manufacturers world adjust to the market accordingly. And that would be just awful.
For the fossil fuels industries.
#67 | Posted by donnerboy at 2026-08-14 12:12 PM | Reply | Flag:
You can buy all the EVs you want, in the US, from non-American brands like Toyota, BMW, etc.
and you know that, but if there's daylight out, lets complain about stuff that doesn't exist.
#72 | Posted by sitzkrieg at 2026-08-14 12:23 PM | Reply
The Port Huron Statement was a broad critique of the political and social system of the United States for failing to achieve international peace and economic justice. In foreign policy, the statement took issue with the American government's handling of the Cold War, both the existential threat of nuclear war, and the actual arms race. In domestic matters, it criticized racial discrimination, economic inequality, big businesses, trade unions, and political parties. In addition to its critique and analysis of the American system, the statement also suggested a series of reforms: it proclaimed a need to reshape into two genuine political parties to attain greater democracy, for stronger power for individuals through citizen's lobbies, for more substantial involvement by workers in business management, and for an enlarged public sector with increased government welfare, including a "program against poverty." The document provided ideas of what and how to work for and to improve, and also advocated nonviolent civil disobedience as the means by which student youth could bring forth the concept of "participatory democracy."
#73 | Posted by Dbt2 at 2026-08-14 12:23 PM | Reply
1962.
#74 | Posted by Dbt2 at 2026-08-14 12:23 PM | Reply
REPLY: Ah, but I do have retirement pay, and I consider it YOUR tax dollars that are paying me the 1st of each month. Have a nice day : ) #68 | Posted by MSgt
Loving his socialism.
#75 | Posted by Dbt2 at 2026-08-14 12:25 PM | Reply
I didn't know what SDS meant either. Thanks for posting about that.
1962 turmoil??
We had a young hip president
we had a minimum wage that was mucho better than today when adjusted for inflation
we had 91% marginal tax rate on the highest income
Vietnam hadn't taken off yet.
decades before Citizens United
Civil rights were heating up....
We had the Cold War of course.....not sure what the SDS crowd wanted as a solution to that challenge.
#76 | Posted by eberly at 2026-08-14 12:43 PM | Reply
I didn't know what SDS meant either.
Not to worry... it's not relevant. MST said it was a typo and he meant DSA.
#77 | Posted by REDIAL at 2026-08-14 12:49 PM | Reply
#72 | POSTED BY SITZKRIEG
How long do you think we can protect our auto manufacturers from China and the world? They have already collapsed once. And we had to bail them out /subsidize them already. Are we to always subsidize them?
If all tariffs were removed (slowly if need be) to allow for a more fair market competition would not those (Toyota etc) prices come down too? Are auto industries always to be given some kind of guarantee by our government that they will always be supported and must always succeed? No matter how badly they perform in the market? That seems a bit socialistic to me.
#78 | Posted by donnerboy at 2026-08-14 01:00 PM | Reply
That seems a bit socialistic to me. #78 | Posted by donnerboy at 2026-08-14 01:00 PM | Reply | Flag:
Then you failed your polisci classes.
#79 | Posted by sitzkrieg at 2026-08-14 01:09 PM | Reply
#79 | POSTED BY SITZKRIEG
Nope.
While it is not true socialism, it is "socialism for the rich".
I.E. "a bit socialist".
The state uses taxpayer money or central bank power to interfere in the market.
Private companies keep their profits during good times, but force the public to absorb their losses during a crisis.
Aid goes to well-connected corporate elites rather than ordinary citizens.
Crony Capitalism
Or
"A bit socialist."
#80 | Posted by donnerboy at 2026-08-14 01:17 PM | Reply
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