How much does the average American family earn in 2020? Why household income figures are going to get shattered because of Covid-19 and 65 million Americans on Social Security
The typical American family was already having a tough time prior to Covid-19 and many were living paycheck to paycheck. Surveys conducted prior to Covid-19 showed that 1 out of 3 Americans were not able to sustain an emergency expense of $1,000. As many of you know, even a small illness would shatter this amount. […]
How subprime loans keep the bubble going: Subprime auto loans continue to grow as credit worthy customers drop out of the market.
Low interest rates create an environment that encourages debt based spending. In regards to monetary policy, this is how you grease the wheels to get the economic engine spinning. As part of your financial arsenal this can be used in moderation but the Fed has been using maximum credit leverage since the economy imploded and […]
Why are so many young Americans living at home? Record number of Americans living at home while student debt reaches another record.
While the unemployment rate continues to fall in large part because people are dropping out of the workforce, we reach another record which highlights a difficult economy for young people. A record number of young Americans now live at home. It would be one thing if this was being driven by a desire to stay […]
Arrested development courtesy of student debt: How student debt is putting the lives of many young Americans on hold.
Many young Americans view student debt as a necessary evil in pursuing higher education. The level of student debt now reaches Himalayan levels as many are falling behind on keeping up with payments. A double-edged sword has befallen young Americans. First, the path to middle class jobs no longer runs through a blue collar industry […]