The Sky Is Falling: Credit Card Defaults Soaring, and the World’s Living Paycheck to Paycheck
Ladies and gentlemen, brace yourselves, for I bring you news of a financial apocalypse! The world as we know it is teetering on the brink of economic disaster, and it’s all because of the catastrophic rise in credit card defaults. People everywhere are living on the edge, struggling to make ends meet, and it’s a […]
Subprime credit cards – Credit card delinquencies higher than financial crisis peak at 4,700+ small US Banks.
Americans are trying to keep up the pretense of a middle class lifestyle with credit card debt. Out of all the debt available, credit card debt is the least helpful in building a viable financial future. With credit card debt, you are spending future earnings on consumption today. It would be one thing to pay […]
Credit Card debt over $1 trillion and 1 in 5 Americans have more credit card debt than actual savings.
What is worse than being broke? Having a negative net worth. New data shows that 1 out of 5 Americans has more credit card debt than actual savings. Then again, half of Americans have no actual savings to their name so this isn’t all that surprising. Yet this is a big problem given that many […]
Americans now Hold Over $4.1 Trillion in Consumer Debt: Last Debt Bubble Peak was at $2.5 Trillion.
Americans now hold an incredible $4.1 trillion in consumer debt. This latest data shows that Americans are now back to having an insatiable appetite for spending beyond their means. Unlike mortgage debt, consumer debt is not building up any future equity here. The largest category of consumer debt is student loan debt. Even at the […]