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Some Trumpies actually took him at his word, and thought that Trump miraculously turned the economy around in January 2017! We saw the crowing right here.
You wouldn't see most reputable individuals get caught in such blatant provable lies, but Trump would. Perhaps that is why so many Trumpies expect, indeed WANT, Democrats to lie about the economy. It would conveniently set up your straw man argument for you.
Non-Trumpies have no reason to lie. The economy started turning around in 2010 and continued to improve every month since. It is one of the strongest recoveries on record, although the biggest disappointment has been a lag in wage growth.
What does concern a lot of people is Trump's recklessness and chaotic trade policy maneuvering which could precipitate the downturn. He doesn't listen to good advice. The best way would be, if there must be a downturn, some kind of gradual or soft landing, so ordinary people are prepared to some extent and there isn't a panic. The way Trump is acting, he could make it come crashing down in a hurry (which no one wants, especially me), and he reaps well deserved criticism from professional business analysts and economists for his chaotic and poorly thought out policies.
What the Democrats will debate amongst themselves is how to best improve the lives of ordinary Americans. Watch for it.
High FICO scores mean we have a lot of people trained on how to be a very good customer to banks and creditors, that is all. It has no relevance on financial wellbeing or capitol levels.
Besides FICO score is a scam anyway, they can arbitrarily change factors to move that number up and down without any change to consumer behavior.
Most of us only care about FICO scores because its relevant to getting a mortgage, outside of that most ignore the number unless your career is in finance. If your buying cash or own a business and can use a P&L statement or other financial disclosure the FICO means nothing.
LOL, this is a perfect example of Trumplings reading something that sounds like Trump has done something good, but they don't read beyond the propaganda on their right-wing source.
To wit: Average FICO scores have been setting records every year since 2013!
Americans’ average FICO score has hit an all-time high of 706 on the personal credit rating scale.
One factor would be the spate of bankruptcies in 2008, 2009 and 2010. It takes seven to ten years for a bankruptcy to come completely off of a credit report and anyone with a good payment history and decent ratios would have had their credit score suppressed with that mark on it.
I wasn't really expecting an answer, because unless you're an insider you wouldnt know.
However what is known, is the previous method that was used to determine such (and this was done with the blessing of the fed govt), was altered to allow people with poor credit or no credit to suddenly have favorable FICO scores. I cant imagine why
You know as well as I ... Debt bubble and burst, 3.0 (Great Depression, 2008, and...???). Consumer spending, which is $14.24 trillion/year, is 68% of the U.S. economy. Consumers can't spend unless they take on more debt, and consumers can't take on more debt unless their FICO scores are artificially inflated so that they "qualify" for more debt. It's a fool's game.
LOL, this is a perfect example of Trumplings reading something that sounds like Trump has done something good, but they don't read beyond the propaganda on their right-wing source.
To wit: Average FICO scores have been setting records every year since 2013!
Americans’ average FICO score has hit an all-time high of 706 on the personal credit rating scale. This is another metric whereby the strength of the US economy may be gauged. It shows that, in larger number than ever before, Americans are able to make money, pay their bills and borrow money when they need to.
LOL, this is a perfect example of Trumplings reading something that sounds like Trump has done something good, but they don't read beyond the propaganda on their right-wing source.
To wit: Average FICO scores have been setting records every year since 2013!
Why should Trump get credit for something that started 4 years before he took office?
Funny I didn't see the Trumplings here celebrate the all-time high FICO scores that appeared in 2013, 2014, 2015 and 2016.
And for the blind and people who are too lazy to click on the CNBC link (and I note the OP's article was referencing this same CNBC article), here is the chart:
High FICO scores mean we have a lot of people trained on how to be a very good customer to banks and creditors, that is all. It has no relevance on financial wellbeing or capitol levels.
Besides FICO score is a scam anyway, they can arbitrarily change factors to move that number up and down without any change to consumer behavior.
Most of us only care about FICO scores because its relevant to getting a mortgage, outside of that most ignore the number unless your career is in finance. If your buying cash or own a business and can use a P&L statement or other financial disclosure the FICO means nothing.
Wow. No. Want to rent an apartment/home? Your FICO score is checked. One of the final candidates for a job? Your credit history is checked. Want to buy an auto or homeowners insurance policy? Your credit history is checked and your insurance premium is determined, accordingly.
You know as well as I ... Debt bubble and burst, 3.0 (Great Depression, 2008, and...???). Consumer spending, which is $14.24 trillion/year, is 68% of the U.S. economy. Consumers can't spend unless they take on more debt, and consumers can't take on more debt unless their FICO scores are artificially inflated so that they "qualify" for more debt. It's a fool's game.
All of that plus one more huge point.
Our economy is a consumer spending driven economy that requires access to large capitol or credit to work. Since most Americans have little to no liquidity or capitol, all we have is credit to go with. Think about all the crap we buy on credit due to a lack of capitol, its literally everything sold outside a Wal-Mart or half a Home-Depot (other half will likely require access to credit).
If the middle class could not access credit or the percentage that can is reduced, we would have a huge recession and possibly depression. There is incentive in moving FICO score parameters around to ensure credit is flowing, even if the house of cards is at risk of falling.
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... Debt bubble and burst, 3.0 (Great Depression, 2008, and...???). Consumer spending, which is $14.24 trillion/year, is 68% of the U.S. economy. Consumers can't spend unless they take on more debt, and consumers can't take on more debt unless their FICO scores are artificially inflated so that they "qualify" for more debt. It's a fool's game.
