Hitting the credit card wall – Credit card debt contracts 17 percent as the grand American household deleveraging continues. Average household with credit card debt carries $16,000 at an average rate of 15% – Real broke housewives. Orange County California witnesses a 600 percent jump in bankruptcies.
Credit card debt has become a big financial albatross for many American families. According to the Federal Reserve Survey on Consumer Finance over 176 million credit cardholders exist in the United States. This is an amazing figure when you actually think about what a credit card is. A credit card essentially allows you to spend […]
The kamikaze debt market deleveraging– Total credit market debt balloons to $53 trillion while US households pushed to deleverage. While American household debt has fallen by $569 billion total credit market debt is up $3 trillion.
When it comes to taking the bitter austerity medicine not all participants are shouldering the burden when it comes to the financial market bailouts. The American worker and family have largely been in a massive round of deleveraging from an overhang of debt. The data shows us this with household market debt falling by $569 […]
The day of reckoning for global total debt – total credit market debt up from $28 trillion in 2001 to $53 trillion in 2012. US consumer debt went up in last few months but largely because of giant amounts of student loan debt taken on.
You have to really question what passes for financial analysis these days. One financial show was discussing the recent increase in consumer debt as something positive. In the same breath this person also said that households increased savings. Now think about this statement. If you financed a $2,000 vacation on your credit card but increased […]
The banking protection racket – 5 charts highlighting the laundering and dismantling of the middle class. New methods of looking at employment. Peak debt and tweaking statistics.
Part of the crushing blow to the middle class is the misinformation being lobbed out as good economic news. For example, inflation is increasing yet the average American worker pulls in $25,000 per year. You also have the civilian population ratio still at levels last seen three decades ago. It depends on how you look […]