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 […]
The secret to the current recovery is that American households are up to their eyeballs in debt once again! Consumer credit hits a record $3.7 trillion.
Do you notice more credit card offers hitting your mailbox? Are you noticing more “easy financing†for purchasing a new car? Welcome to the new recovery where spending is being fueled by consumer credit.  Once again people are spending beyond their means. In an economy driven by consumption you need to keep people spending and […]
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 […]