As the debt bubble grows:Â US Gross National Debt to Spike by 800 Billion Dollars in October.
It is rather clear that we are spending beyond our means like a young college graduate with their first paycheck. Consumer debt continues to spin wildly out of control and the government continues to spend money that it does not have. This works until it doesn’t. Of course the usual debt ceiling slash political charade […]
The debt spending binge: Household debt has surpassed record levels reached during 2008 Great Recession.
Debt spending is once again keeping the economy afloat. People are leveraging future income on buying items today on the basis that the economy is not going to have a hiccup. On some reports you see pundits mentioning that delinquencies remain low. Well things were fine too before the Great Recession hit. Once again we […]
The Great Retail Apocalypse: Americans spend more at bars and restaurants than at grocery stores.
The list of retail bankruptcies continues to grow in 2017. The list includes J.C. Penney, Sears, RadioShack, and just recently Payless. Of course there is massive growth in dollar stores as Americans are pinched for cash. There has been a retail apocalypse and part of this has to do with the ridiculous amount of mall […]
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 […]