The young, broke, and indebted American: 45 percent of 25 year olds carry student debt and the median net worth of those 35 and younger is one month of expenses.
It is clear looking at economic data that young Americans were not sent the memo regarding this economic recovery. People do realize that the “Great Recession†officially ended in the summer of 2009, right? We’re heading into year six of this recovery but many are simply seeing lower paying jobs, a deeper reliance on debt, […]
The revival of the American debt machine: auto loans, student debt, and credit card debt surge in latest report. Total non-housing debt now at $3.15 trillion.
Last week while going through mountains of credit cards offers, it felt as if we were in 2005 and 2006. Even last year, the cold calls started and it seemed like the debt machine was back and alive. This is helpful news for consumers given that half of Americans are living paycheck to paycheck. Now […]
A leveraged system – US debt jumps $100 billion on last day of year. Total US debt markets at $58 trillion.
The New Year came and went and here we are fully into 2015. Most Americans didn’t realize this but on the last day of the year US debt jumped by $100 billion in one day driven largely by Social Security adjustments.  The current economy is dangerously addicted to debt. There was a time not too […]
One-third of working Americans support two-thirds of the population: The hidden figures of those not in the labor force and transfer payments.
There still seems to be little acknowledgement of the massive army of people now falling into the category labeled as not in the labor force. Some of this growth is predictable like many older Americans hitting retirement age. But this only explains a small portion of the change since many older Americans are needing to […]