Average American family is $9000 in debt.

[bruceduece1]

Bob, I can't help but notice that you've aged a bit in five years, Maybe you need a vacation. You know, someplace sunny with pretty girls tending to your every whim. Someplace like a sanitarium!

[bruceduece1]

Only $9k in debt? I've got a few dozen people covered! It doesn't take long for the average earner to make $9k. The problem seems to be mostly with the young. Credit was too easy for them, now they're swimming in debt. Sooner or later, when they get older, they'll demand debt relief. But not to worry Bob; you'll have an aneurism before then!

[88pie88]

my dad is only 1500$ on dept. but still has a mortgage

[andrademeza]

OMG GUYS...AS OF TOMORROW..I WILL BE IN A TOTAL OF $10 IN DEBT. I WILL NOT BE ABLE TO COVER THE LAST 10 DOLLARS OF MY CREDIT CARD BILL.

[friedie1jeff]

9000 in debt is excellent if all or part of that includes car loans.

[fredjustsucks]

more like OVER NINE THOUSAAAAANNNNDDDD!!!!! dollars in debt

[ownerowner100]

I have zero debt too, excluding my small mortgage payment , however I am selling my home and with it's equity I am buying a replacement home for 100% cash. At that time I will be living very cheap, I will only need $14K per year to live.

[SB80100]

Wow, $9000 seems to be a lowball number, but I haven't actually seens the stats. I know alot of people who are 20k + in the hole and they are STILL swiping those credit cards like there's no tomorrow.

[91lilfrozone23]

could you stop fucking screaming?

thank you

[nomorefunds]

Yeah. Gotta have those McMansions, SUVs and Dooney & Bourke handbags. Where I live, they have more than 9K in credit card debt. Some have 90K in consumer credit card debt.

[daboodeef179]

my "uncle" has ZERO debt. want to know why? CAUSE HE DOES NOT SPEND MORE THAN HE HAS.

[border205]

I am not going to pay for it because I don't live in the US, what's next? It would be funny if this chump is in debt!!!!

[Gabbo2010]

@border205

Some Americans are actually leaving the US to avoid paying debts. I actually met a Yank in Sydney who owed someone $4 million US, he has been owing it since 2001.

[ptolemyauletesXII]

How novel... Bob occasionally says something that makes sense... well... even a blind squirrel finds a nut once in a while.

[slackeriii]

@ptolemyauletesXII how do you know that what he says is usually wrong? Is that, by any chance, because you watched most of his videos? Wouldn't that mean you secretly like his show? :D

[ptolemyauletesXII]

@slackeriii I certainly don't agree with the vast amount of Tea Party/ Right Wing/Conservative/irrational/b­lame outsiders/ hate new ideas crap that he usually spews, but he can be pretty funny, often in a good way. His video on the Yellow Wiggle retiring is comic genius.

[sideslide23]

well good luck but if you get fired or laid off, you'll wont be able to pay your bill and your screwed so make shure you have a reliable jobs before you start spending money on something.

[dredsdomain]

Holy crap, you called it 2 years before the crash. It was obvious, I'm surprised it went as long as it did.

Personally I just have student loans and my LOW AFFORDABLE house payment, My business will be out of debt by the end of the year. It's nice not having a neuce around your neck 24x7. Watched friends rack up equity bills and credit card bills and now cry that they are hurting. We lived frugally and still had to cut back with all this shit.

Good stuff Bob!

[billydumont]

Americans are morons - They will not know how to survive when the time comes for them to start from scratch

[The82ndParatrooper]

@billydumont Americans are morons? Not all of us. Stop with your stereotypical comments buddy

[zithium]

You do have to think about how many of those families don't have health care (we all know how expensive that is). And don't call them morons, no one ever thinks anyone is going to happen to them. But what do you know, an accident happens, someone gets cancer, hurt on the job and owes tens of thousands to the hospital.

[crazywanch101]

Americans are EXTREMELY irresponsible.I am going to go to school get a good education,graduate go to college get a job and only buy the neccesseties.

[Jean0987654321]

man, us americans are irresponsible

[xtremixt1]

that's because americans are stupid.

[HAZIDEAD]

Interesting you were raising this over three years ago when nobody was dreaming about the financial disaster and Obama's bailout.

[savemyplaylist]

@HAZIDEAD

Yup, it's common sense and all these morons thought it was normal...

[catsmithyu]

Walmart is part of the problem, Every pair of shoes i have purchased from Walmart have only lasted me five months before falling apart. The ones i purchased at Kmart have lasted over two years.

[Crail]

My parents are probably 50-80k in debt.. not because they live beyond their means, but because of 5 generations of farming. My dad finally quit and they're slowly paying it off. Now my cousin is 75k in debt just out of college, with a degree he cant get a job with he's now considering going back to school.

[Lightshammer]

I think its far over 9000. Likely well over 100k.

IF you take into consideration the mortgage and car payments...im betting its a hell of a lot more than 9k.

[glaked23]

The debt level, IS OVER 9000!

[DarkProject]

What 9000!!!

[metaldave9]

You called it. Look where we are now.

[davidluk8]

By the way. I want to borrow $9M. Give me a call if someone want to lend me the money.

[davidluk8]

Keep borrowing, $9,000 is just too small. Borrow $90,000, spend it and then go bankrupt. haha

[madcatzy]

yeah! and get bailed out! :) lol

[rukiXrosawere]

My family uses Cash not Debt.THANK GOD!My family knows how to treat money(Not my brother he lost his house that way and now lives in an apartment)Can`t wait to see WHAT`S NEXT WHAT`S NEXT WHAT`S NEXT

[madcatzy]

HAHA so true!!!!!!

[splintercell99]

I know 3 people in my age demographic 18-25 that are each over 20 k in debt, and have no assets or real full time jobs. Where did the money go? booze, vacations, clothing etc

[JMB129]

It's always "the gov't should raise minimum wage" or "they cut my hours at work" or "my asshole boss wont give me a raise'. I've never heard anyone say "I really shouldn't have gone on that shopping spree at Circuit City" or "I need to learn to manage my finances better". And when you suggest this to someone, they look at you like you're crazy, but then they insist they're broke because the bare necessities in life are so expensive. Everything is someone else's fault.

[JMB129]

I worked in a financial services company on and off for a few years, and the big shots always said the same thing: "We walk into a client's house, they have 3 cars, a swimming pool, 2 big screen TVs, playstation, xbox, 2 computers, everybody has a $30 haircut, and they're up to their asses in debt. They don't own any of this stuff." When you walk into someone's house, don't be fooled. Many times, their whole life is hanging on a thread because of their stupid money mismanagement.

[JMB129]

Although there are many people who are in debt simply because of buying the bare necessities, it is naive to think that this is always the case. You can throw around all the "statistics" you want, but when you simply observe peoples' words and actions, you can easily see why people are in so much debt. Everyone has that one friend or family member who is always buying jewelry, $100 shoes, electronic gadgets, etc, but claims to be broke because of "bills". I love this video Bob.

[emforu]

I LOVE YOUR CONVICTION!!!!! Isn't it awful, that we finally have to get so pissed off at this crap that we end up popping a vein in our own necks. But for the total ignorance of brainwashing and keeping up with the Joneses...HEEEELLLLOOOO...THE JONESES ARE BROKE!! I LOVE YOU BOB!!!

[xtremixt1]

then americans will soon sell their kids to chinese soldiers who will rape their daughter with their one inch penis. LOL... America owes China billions in debt...

[slashmaster2]

Where are you getting this idea from? It's not true, the schmuck who runs around buying stuff they can't afford makes life better for people who don't do that. We can buy all the forclosed and reposesed stuff cheap!

[psychogranddad]

america is dieing.

[BLKcovenant]

By the way... private bankers make our money and charge an x amount for each dollar made, meaning America as a whole will stay in debt because in order for us to get out of debt we must print more money...get it

this has been true since 1913

[BLKcovenant]

damn bitch, drink much?

but yeah your right.

[bman462]

good thing i have a gov't job with an inflated salary

[cripplewoox]

same here in uk mate,were being conned to fuck!

[kikthecan]

shush the government cant do everything to make 300 million people happy, average = a LOT of people so like better keeping them alive then having them kill themselves, its america and people can do what they want and others know whats going to happen and if you dont like it move somewhere else or go to big schools and run the frikkin country yourself im sure you would do a better job complaining all day long...

[jackfuckingjevons]

i just went to christmas at my girlfriend's house. her cousing and the mongoloid boyfriend have baby twins.

cute right?

fucking wrong. these little kids have designer cowboy boots, hundred dollar pairs of CK pants "For Baby".

Just a thought: how about a fucking college fund!!!

then the father has the stones to claim he hates whoever invented the free estimate idea for construction companies.

we live in hell.

[imhotep1]

I almost cringed when I say "Platinum Babies". Now those people are millionaires so they are an exception, and we all have a thing or two we splurge on, but for the working poor trying to keep up with the Joneses. I can't stand that.

[BeatBuddy]

This guy has never been in debt. At one point when I was on the verge of debt, I got a part time, temporary job. Am I patting myself on the back? You bet!

[weesu]

Hot damn your right.

[jamie6754]

americas Debt $48 Trillion

[postall]

Yes, and the Income Tax citizens pay, goes to paying ONLY the INTEREST on that debt.

[winterpeger]

Update bro, its 50 trillion

50,000,000,000,000

50,000 billion. When it implodes, be far away.

[krgordon]

I think he meant the 9,000 is for each family. In total yeah your number is right. But his point was the individual families are that much in debt.

[msnpwl]

moron shouldn't have spent more than he makes

[bluerock21]

great video. i've got a friend who's only 23 years old and $13,000 in debt. i'm not helping him, and his families not, he has to get out on his own.

but great video man.

[bodani]

Man u got style! Real good points! I agree

[mirokulol]

Nice haircut...and yeah, good arguement here.

[VideoXPG]

Too Right, I never buy anything that my paycheck can't afford.

[musj13]

Agreed