Demo Memo: Owing Your Soul to the Company Store ...

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Older Americans Are Deeper in Debt

Today's older Americans have more debt than their predecessors, according to a Liberty Street Economics analysis. Among borrowers aged 50 to 80, aggregate debt grew 60 percent between 2003 and 2015, while the debt of younger borrowers fell slightly during those years.

Tapping into the New York Fed's Consumer Credit Panel, which is based on Equifax credit data, the researchers examined five types of debt (mortgages, auto loans, credit cards, student loans, and home equity lines of credit) to see how balances have changed. Among borrowers aged 50 or older, the per capita balance of each type of debt except credit cards increased between 2003 and 2015. Among younger borrowers, the per capita balance of each type of debt except student loans fell during those years. 

This is good news, say the researchers, because older borrowers are more likely to pay back their loans. So far there is no evidence of greater delinquency among older borrowers as their debt level has grown. The aging of the nation's borrowers is likely to mean "greater balance sheet stability" and less "credit-fueled consumption growth."

Source: Liberty Street Economics, The Graying of American Debt

Cheryl Russell is a nationally renowned demographer as well as editorial director of New Strategist Press. Russell also is the former editor-in-chief of American Demographics magazine and The Boomer Report. She has written numerous books about demographic trends. Ms. Russell is a professional demographer with a master's degree from Cornell University.


 

Last Updated on Friday, 26 February 2016 21:33
 

Caring for Cayuga Lake's Watershed: It's a big deal -- be there

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Editor's Note: Sorry if our image is slightly off-kilter. This event is one of those rare under-the-radar info sessions that's very much about the place we live without any of the shuck n' jive of say, a Common Council session or an academic exercise in fried air. Plus, you get to go inside the mysterious confines of the US Coast Guard Auxiliary 2-2 building. When is the last time you can say you did that? And hey, Boatyard Grill is right nextdoor.

WHEN: This Saturday, 1-4 p.m. in the US Coast Guard Auxiliary 2-2 on Inlet Island near The Boatyard Grill and the former Johnson Boatyard.

Topics to be covered include: SHORT, Succinct and pithy reports on the management and control of the vile Hemlock Woolly Adelgid which is dooming entire groves of hemlock in the Northeast region alone.

Also: A report on the Cayuga Watershed Plan. Did you know there is a Cayuga Watershed Plan? Well there is. Live here? Learn about it.

Contact information and other pertinent stuff is right here on this image. Questions? Contact Gene Little at whitfordg52@yahoo.com or Hilary Lambert: steward@cayugalake.org

Also: Before, during or after, please participate in the online survey at  www.cayugalake.org.

Beverages will be served.

Thanks and see you there!

The Team at tinytowntimes.com

 

 

Get Savage this Saturday with the Savage Club Radio Hour

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Tiny Town, USA – The Savage Club of Ithaca is offering up an all NEW Winter Show for 2016 this Saturday, Feb. 27, at 7 p.m. in the Unitarian Church of Ithaca, 306 N. Aurora Street.

The Savage Jazz Band jump-starts an evening of fun and frivolity with a pre-show at the appointed hour and then the whole hot tamale goes live with The Radio Hour at 7:30 p.m.

Imagine yourself back in the early days of home entertainment sitting around the family radio.  Creative license will have you laughing and smiling with every performance. So don't forget to bring your creative license.

Join the suspense with the latest madcap escapades of JACK RAVEN, Private Eye.  Follow him into the billowy mist of an exotic far-fetched adventure.  Take your seat and be prepared for a rapture to another time.  We will, of course, transport you back for a mere $10 at the door.
Tickets also are available online at www.savageclubofithaca.com, Hickey's Music, and Pastimes Antiques.
 

Tiny Town Teaser No. 28, Vol. 7

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Across

1. With 4 Across, steam
4. See 1 Across
5. Following 4 Across, famous parting place

Down

1. They have their moments
2. Oxford letters?
3. Author LeShan
>>><<<<
Degree of Difficulty: Hard as walking on this slop ...

 

 

Last Updated on Wednesday, 17 February 2016 01:01
 


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