The 4 Horsemen of the US Debt Apocalypse: 80 percent of federal government operation costs go to four areas in Health and Human Services, Social Security Administration, Veterans Affairs, and Department of Defense.
Here is a question you probably won’t find on Jeopardy: what is the actual risk of a U.S. default on its debt? The answer to that is none because the Federal Reserve has the magical power to create new debt to pay off old maturing debt. Must be nice to operate beyond the normal rules […]
Class of Underemployed: Nearly 50 percent of recent college graduates are working in jobs where no college degree is required.
We don’t send our young into the wilderness for a vision quest as a rite of passage. There are few things in modern society that signify a transition into adulthood. Going to college is one of them. And in debt addicted America, it is no surprise that for many, college debt is the first debt […]
Putting it on plastic again – Record number of credit cards issued in 2015 surging 90 percent from 2009. 60 million credit cards issued last year alone.
We love credit cards as much as we hate paying bills. As a nation we have an addiction to instant gratification. In the not so distant past, Americans actually had to save money before making a purchase. Seeing that many Americans have nothing in their pockets except lint and cell phones with hefty monthly payments, […]
New banking normal where lending $2 increases GDP by $1: US bank credit up 44 percent since 2008 while GDP up 21 percent.
Remember a time when people used to be cautious when it came to taking on debt? Probably vaguely since the entire U.S. economic system is built on “gold†and “platinum†credit cards being shelled out to people that can’t afford an ounce of either. In the mail I’m receiving overwhelming offers for credit cards and […]