The Sky Is Falling: Credit Card Defaults Soaring, and the World’s Living Paycheck to Paycheck
Ladies and gentlemen, brace yourselves, for I bring you news of a financial apocalypse! The world as we know it is teetering on the brink of economic disaster, and it’s all because of the catastrophic rise in credit card defaults. People everywhere are living on the edge, struggling to make ends meet, and it’s a […]
Millennials will be crushed under debt: Non-housing debt now reaches $4+ trillion in the United States.
Millennials continue to face the struggles of living in a world where they are deep in debt and the idea of buying a home is becoming more of a farfetched pipe dream. As recently as 2009 non-housing debt stood at $2.5 trillion. Today it is over $4 trillion, a 60 percent increase in 10 years. […]
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 […]