"It’s A Cash-Flow Problem": The Ever Broker US Consumer Increasingly Relying On Credit Cards For Daily Staples

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Thu, 07/21/2011 - 13:52 | 1477847 trav7777
trav7777's picture

Broke, bitchez

Thu, 07/21/2011 - 14:04 | 1477886 Ahmeexnal
Ahmeexnal's picture

When the price of gold stabilizes at one trillion soetorobucks per ounce, will inflation moderate?

 

Cash Flow problem? Seems to me it's more of a Cow Flash problem.

Thu, 07/21/2011 - 14:16 | 1477954 wsmith
wsmith's picture

Gold, gold, gold!

What you really need is a heated shack, a case of pork and beans, and a Becky Quick blow-up doll.

Welcome to the new normal.

Anyway, so long.

And God bless all you Marxist cocksuckers.

http://geraldcelente.proboards.com

Thu, 07/21/2011 - 14:41 | 1478057 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Did they have credit cards during the great depression?

Thu, 07/21/2011 - 15:20 | 1478280 LongBalls
LongBalls's picture

America will default on it's debt. Unfortunatley a countries default starts at the kitchen table.

Thu, 07/21/2011 - 16:55 | 1478682 RockyRacoon
Thu, 07/21/2011 - 16:47 | 1478638 Bob
Bob's picture

Now this crazy shit has passed that inflection point to funny!  Fuck you, too, wsmith!

Oh, yeah: you cheap gold-fucking whore!

Thu, 07/21/2011 - 14:12 | 1477939 carbonmutant
carbonmutant's picture

Buy now, Pay later...

Thu, 07/21/2011 - 14:21 | 1477969 Doyle Hargraves
Doyle Hargraves's picture

you mean default later!

Thu, 07/21/2011 - 14:29 | 1477996 Oh regional Indian
Oh regional Indian's picture

I also met many buy now, hope never to pay through bankruptcy, too.

ORI

Thu, 07/21/2011 - 14:38 | 1478042 Popo
Popo's picture

Deflation, bitches.

Sun, 07/24/2011 - 12:45 | 1479182 Taint Boil
Taint Boil's picture

A little something for the banks:

 

 

…………../´¯/)……….. (\¯`\
…………/….//……….. …\\….\
………../….//………… ….\\….\
…../´¯/…./´¯\………../¯ `\….\¯`\
.././…/…./…./.|_……_| .\….\….\…\.\..
(.(….(….(…./.)..)..(..(. \….)….)….).)
.\…………….\/…/….\. ..\/……………./
..\…………….. /……..\………………/
….\…………..(………. ..)……………./
……\………….\……… ../…………./

 

Thu, 07/21/2011 - 13:54 | 1477858 TruthInSunshine
TruthInSunshine's picture

Gold is the currency of Kings.

Silver is the currency of gentlemen.

Barter is the currency of peasants.

Debt is the currency of slaves.

 

Debt is on the rise again. Bernanke is succeeding.

 

Bullish!

Thu, 07/21/2011 - 14:11 | 1477938 Stoploss
Stoploss's picture

Liking the ads on the main page. I detect a hidden message there.

Thu, 07/21/2011 - 14:32 | 1478009 Ahmeexnal
Ahmeexnal's picture

Bullets is the currency of uprising.

Thu, 07/21/2011 - 19:39 | 1479083 Founders Keeper
Founders Keeper's picture

[Gold is the currency of Kings.

Silver is the currency...]---TruthInSunshine

You could post this message every week for a year and it would never lose impact.  Thank you.

(I think of "silver" as the currency of merchants.) 

Every free individual can be the King of his/her home and a Merchant of their community. Gold & Silver = freedom.

 

Thu, 07/21/2011 - 13:55 | 1477868 Archimedes
Archimedes's picture

I don't have a PHD but I think we may be in trouble..........

Thu, 07/21/2011 - 14:32 | 1478010 Cole Younger
Cole Younger's picture

Yep...but the PHD's don't think we are in trouble...Keynesian economics and all

Thu, 07/21/2011 - 14:32 | 1478011 Oh regional Indian
Oh regional Indian's picture

Terrnace mcKenna had a pHD in plantology and he called it cycles ago.

ORI

http://aadivaahan.wordpress.com/2011/03/11/axis-trembles/

Thu, 07/21/2011 - 13:56 | 1477876 cougar_w
cougar_w's picture

I don't think Joe 6P can be accused of moral hazard in the case of using his CC to buy food, and then bailing on his payments.

It's called being broke.

Sounds a little different, doesn't it?

Thu, 07/21/2011 - 14:08 | 1477924 TheFourthStooge-ing
TheFourthStooge-ing's picture

I don't think Joe 6P can be accused of moral hazard in the case of using his CC to buy food, and then bailing on his payments.

When you consider that the alternative might very well be resorting to burglary and/or robbery in order to buy food, the case can be made that running up a credit card and then bailing is exercising sound judgement. Burglary and robbery are crimes against other members of the community. Stiffing the big banks on credit card debt is more like reclaiming some of your blood from a leech.

 

Thu, 07/21/2011 - 14:19 | 1477964 cougar_w
cougar_w's picture

Shemp was always my favorite stooge.

Thu, 07/21/2011 - 16:47 | 1478652 Buckaroo Banzai
Buckaroo Banzai's picture

Shemp-- the forgotten Stooge.

Thu, 07/21/2011 - 14:10 | 1477930 carbonmutant
carbonmutant's picture

Especially since this is the standard being set by the current administration...

Thu, 07/21/2011 - 14:24 | 1477980 FEDbuster
FEDbuster's picture

Let's not forget all the 99ers rolling off the unemployment dole that are chronically unemployed.

Perhaps the banksters will raise the debt ceilings of every American with a credit card?  Give me a couple cards with $1 mil. limits, and I can roll it to the end with 0% transfers.  "The more debt you have, the wealthier you are" Congressman Pete Stark (D. CA).

Thu, 07/21/2011 - 15:05 | 1478195 1100-TACTICAL-12
1100-TACTICAL-12's picture

Use'em up & tell the bankers to F-off. The globalist have gutted this country. There is not one damn thing going to get better, our economy has been offshored, and the talking heads just beat around the bush & never get to the root of the problem.

Thu, 07/21/2011 - 14:00 | 1477883 sitenine
sitenine's picture

This takes me back to 2008, when The Bernank quaintly opined that, "it's not about liquidity, it's about access to credit."

Well, when one lacks the liquidity to pay back the credit, it's a FUCKING LIQUIDITY PROBLEM Ben!!!

Why does this man still have a job!?

Thu, 07/21/2011 - 14:02 | 1477892 Ahmeexnal
Ahmeexnal's picture

nobody else wants that job

Thu, 07/21/2011 - 14:23 | 1477978 ZackLo
ZackLo's picture

I'll take it fed funds 25% and discount window closed, and I'll put out a call to congress that we need a cleanup stimulus on wallstreet from all the millionaires jumping out of windows look out below bitchez 911 banker edition!

Thu, 07/21/2011 - 14:26 | 1477989 FEDbuster
Thu, 07/21/2011 - 14:03 | 1477897 Bear
Bear's picture

Simple ... The ones who is looking out for are doing great

Thu, 07/21/2011 - 14:09 | 1477925 Ag Star
Ag Star's picture

Because Americans are too weenie to take him down, and his puppet-masters.

Thu, 07/21/2011 - 14:37 | 1478037 NOTaREALmerican
NOTaREALmerican's picture

Re: Why does this man still have a job!?

 

Either because:

1)  He's a sociopath working for the Kleptocracy.

or

2)  He's a true believer in the same economic religion that brought the US unlimited prosperity for 50+ years.   

 

It's tough to kick the infinite debt and central-planning habit when it worked for so long and made so many people rich.    What we need is another Big-MIC to bring us 50+ years of more infinite prosperity.   Where are the leaders of the great and glorious nation when we need them to spend our way to prosperity?  

Thu, 07/21/2011 - 14:01 | 1477888 azengrcat
azengrcat's picture

It is called leadership.  If Uncle Sam spends more than they earn (steal) so can I!

Thu, 07/21/2011 - 14:02 | 1477891 Robslob
Robslob's picture

Unfortunately even more "growth" over the next 6-9 months will have to come from the Fed and the only thing it knows how to do: print, print, print.

 

I must say print, print, print seems to be working...for gold.

Thu, 07/21/2011 - 14:06 | 1477893 Biggvs
Biggvs's picture

Or folks just increasingly pay for groceries and gas by credit card for the 3-6% cash rebate programs, like me. Or the simple convenience. Who wants to pay by cash or check?

Thu, 07/21/2011 - 14:16 | 1477956 slewie the pi-rat
slewie the pi-rat's picture

your question brings to mind a spectrum of possibilities.

Thu, 07/21/2011 - 14:51 | 1478109 francis_sawyer
francis_sawyer's picture

Yeah... If they were smart &/or not broke, they wouln't be using the CC's to buy food & groceries, they' be buying gold with it (& getting cash back to buy groceries)...

Thu, 07/21/2011 - 14:19 | 1477965 Dr. Richard Head
Dr. Richard Head's picture

I try to pay with Federal Reserve Notes everywhere I go.  No reason to help those banks increase the money supply with their "poof" money.  I also like to ask the cashiers if they take Federal Reserve Notes as well.  Pissing in the wind, I know; but every once and a while a cashier will get exactly what I am talking about.

Thu, 07/21/2011 - 14:35 | 1478026 FEDbuster
FEDbuster's picture

Just don't confuse them too much, and try to pay with lawful money.

http://www.youtube.com/watch?v=Ef0VG1WEP10

or

http://www.youtube.com/watch?v=NQB8AvVvgr0

Fri, 07/22/2011 - 00:51 | 1479665 TruthInSunshine
TruthInSunshine's picture

I put a small sticker bearing Bernanke's face over the face of whatever former president is on my paper fiat. For example, on my hundreds, Jackson's face is covered with Bernanke's face.

I also cross out 'In God We Trust,' and write over that the words 'In Avarice & With Lust.'

I happen to put an asterisk by the phrase 'Federal Reserve Note' and add the language "via Federal Reserve Bank, private corporation."

Finally, I have a rubber stamp that I use on each paper fiatski, that imprints in bold letters the phrase "This IOU is not securitized by any tangible thing of value. Good luck."

Oh, one last thing: I also stamp each fiatski with a stamp that says "If you are not the lawful owner of this note, please return it to: 1 King William Street, London, England, EC4N 7AR."

         
Thu, 07/21/2011 - 14:57 | 1478153 -Michelle-
-Michelle-'s picture

Well, we were using our debit card more in order to get cash rebates, but I just got notice that's on it's way out.

A new federal law will significantly reduce the revenue banks receive from merchants when consumers pay with a debit card. USAA Bank has always returned the majority of this revenue to its members in the form of benefits, such as free checking, ATM fee refunds and debit rewards.

 

As a result of the law, USAA Bank will end its debit card rewards program Sept. 1. Unlike other banks responding to the new law, USAA Bank is not adding fees or eliminating the benefits that members value most, including free checking and ATM fee refunds.

Thu, 07/21/2011 - 16:50 | 1478660 Pants McPants
Pants McPants's picture

Good to know, Thanks Michelle.  I use the USAA total rewards CC instead of the debit card; as far as I know there are no plans to eliminate that rewards program....yet.

Thu, 07/21/2011 - 15:20 | 1478282 Saxxon
Saxxon's picture

Good point Biggvs.

Thu, 07/21/2011 - 19:07 | 1478991 Biggvs
Biggvs's picture

Woohoo, I got junked! Must be moving up in the world.

Thu, 07/21/2011 - 14:05 | 1477900 Kali
Kali's picture

What scares me, is the supposed "budget/debt limit" deal, they are talking about revamping the tax code.  Wait til we see that revamp.  We will get more debt and keep less of any income, they are talking about "closing loopholes, credits, deductions, etc".   Good luck trying to eat and keep a home soon, don't care if you have no personal debt or a paid off mortgage.  You know who is gonna end up paying more.  It won't be TPTB or their friends, it will be you and me.  This will push any remaining "productive" people out of the country or force them to reduce income to avoid paying rapacious taxes (going Galt).  I am getting more convinced that nobody will be able to escape serfdom.  They want us all destitute and dependent.

Thu, 07/21/2011 - 18:52 | 1478967 Takingbets
Takingbets's picture

Well every year my niece gets about 9k back in her pockets from the treasury because of her children. She owns no property has no savings, no 401k, and no car half the time. The state pays for her daycare and $1100 a month in food stamps not to mention the cash too! I know she gets back every penny of taxes she pays them and more to boot! I could never understand why we would pay these people to have children???

Thu, 07/21/2011 - 23:37 | 1479604 StychoKiller
StychoKiller's picture

Let's call it:  "Social Justice!"

The term "social justice" is now commonly used by leftist activists, clergy, educators, judges, and politicians to describe the goal they seek to achieve with many of their policies. No precise definition of "social justice" is ever offered by the left. Instead, the term is always used in a vague way -- as if everyone already knows, or should know, what the seemingly well-intentioned phrase "social justice" means.

So, what exactly is "social justice"?

Social justice is the complete economic equality of all members of society.  While this may sound like a lofty objective, what it really means is that wealth should be collected by the government and evenly distributed to everyone.  In short, social justice is communism.

Fri, 07/22/2011 - 01:01 | 1479671 Kali
Kali's picture

Why don't you ask the children's father?  Where is he?  Or is there more than one?

Yes, burns me up too.  The childcare scam is huge too.  I have a biz colleague, she collects over $100,000/yr from subsidies for ONE of her clients.  This client is an "immigrant" who was brought here by her church.  She has 9 children.  The State pays the childcare provider $1k/mo or more per child.  She gets pregnant every year.   She also collects food stamps, free health care for her and her children, housing subsidies and they pay for her to go to college. Needless to say, she doesn't work.   I think we should send the bill to the damn church that brought her here.

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