The average American is broke and buying things they cannot afford with debt again. Debt based consumer financing again filling the gap of a shrinking middle class.
At a family Thanksgiving get together we typically have a usual crowd showing up to celebrate the year that has passed. For many, this is the only time we see each other. A familiar face was not there. We asked what happened and apparently he had to work on Thanksgiving Day because stores are now […]
100 million credit card accounts are gone since 2008 – Credit card balances decline by 22 percent since their 2008 peak.
Credit cards have been used as a lifeline and a way to live beyond one’s means in the United States for many years. Yet the current environment of deleveraging is hitting credit cards hard. The outstanding balance on credit card debt has reached a level last seen over a decade ago. This is positive since […]
The dark financial clouds engulfing Europe. CBO projects massive deficits yet Treasury Bills move lower on global mattress bet.
The Congressional Budget Office released national debt projections showing the US Federal debt will surge to over 200 percent of GDP in the next two decades. Or maybe it will go under 100 percent. It is an interesting wide range projection. You only have a few options to remedy the situation and for the moment […]
Contagion and the viral spreading of debt based systems – CEO pay at regional banks surge on average to $10.5 million thanks to bailouts while austerity is forced onto the middle class.
The biggest economy in the world just reached a new peak with their unemployment rate. We are not talking about the United States but the massive block in the Eurozone. The unemployment rate in the 17 country block reached a new all-time high at 10.9 percent as austerity measures are being used to combat massive […]