How 56.5 Million Households Live: $52,000 Median Household Income in 2009 Crushed by a Decade of Debt. A Decade of Lost Wages and Financial Debt Servitude.
The recent American Consumer Survey had some thought provoking data regarding the typical American household. Wages over the past decade have been stagnant. At least that is what is propagated in the common datasets but in reality, not only has income not grown it has actually declined. The U.S. dollar during this time has been […]
Credit Card Companies Evolving Revenue Streams: Penalty for Paying on Time, 79.9% Annual Fee, Rising Charge Offs. The New Credit Card Revenue Streams.
The love hate relationship with credit cards for many Americans is probably leaning more in the hate stage at the moment. Americans have over $2 trillion in revolving debt – $1 trillion of that is plastic. The average American has come to rely on credit cards as a form of supplemental income, like retirees come […]
JP Morgan the new Lehman Brothers: Why Make Money through Commercial Banking when you can become a taxpayer backed Investment Bank. How JP Morgan Really made the $3.6 Billion in Q3 Profits.
Toxic mortgages and credit card losses through defaults are rising at a rapid pace. This was also apparent in the earnings report from JP Morgan that reported positive earnings because of non-retail banking activities. Yet the media for whatever reason isn’t highlighting more carefully where the gains are coming from. For example, JP Morgan which […]
Bankruptcy Filings Spiking: Chapter 7 Booming and 8 Years of Credit Card Industry Lobbying and $100 Million in Fees.
There is probably no bigger sign of economic distress than bankruptcy. It can be in the form of a business unable to pay debt obligations or an individual simply unable to keep up with former obligations. Most people that file for bankruptcy are not in a good economic spot. In fact, if you want a […]