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A comment on Barely Half of 30-Year-Olds in the U.S. Earn More Than Their Parents Did at 30. Parent comment

Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by notadoc on Thursday December 08, 2016 @02:41PM (#13133467)
Most consumers are tapped out, bad news for a consumer driven economy. There can only be so much more debt accrued.
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by neonhomer on Thursday December 08, 2016 @03:26PM (#13133948)
Don't you mean "bad news for a debt driven economy"?
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by CodeCube on Thursday December 08, 2016 @02:44PM (#13133516)
This feels correct, anecdotally ... but is there data to support this claim? For example, savings rates going down, credit/debt going up, and consumer spending going down?
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by tcoppi on Thursday December 08, 2016 @02:49PM (#13133577)
Here's savings rate data: https://fred.stlouisfed.org/series/PSAVERT

Note that this is savings rate net of taxes. It has been on a mostly steady decline since it has been calculated, with some spikes and a leveling out slightly higher than the rate before the last recession.

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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by warkdarrior on Friday December 09, 2016 @12:44PM (#13140251)
What happened from December 2012 to January 2013 for the personal savings rate to drop from 11% to 5%?
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by falcolas on Thursday December 08, 2016 @02:49PM (#13133578)
You also have to watch for savings going up and credit going down, to reflect people who are sick of being in debt and shying away from it wherever possible.
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by CodeCube on Sunday December 11, 2016 @05:19PM (#13153717)
True that. I was like this for a good number of years, and it's only been recently that I've started using credit for a few things.
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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by notadoc on Thursday December 08, 2016 @02:57PM (#13133690)
Sure, take a look at student loan debt for one glaring example.

Or the debt-to-income ratios required to get a home today versus 30-40 years ago. Credit card debt growth, medical debt growth, saving rates declines, etc.

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Re:Barely Half of 30-Year-Olds in the U.S. Earn More Than Th... by tonyedgecombe on Friday December 09, 2016 @08:47AM (#13138690)
You can always inflate debt away (if you control your currency).
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