Long live the debt ceiling – approaching the fiscal cliff by spending $1 trillion more than is being taken in. A breakdown of government spending and revenues.
History does love to repeat itself especially when it comes to debt bubbles. At the rate the US government is burning through money, we are likely to breach the debt ceiling limit even before we enter 2013. We’re about $400 billion away from the $16.39 trillion limit but considering we’ve already spent $700+ billion that […]
The four horsemen of the sluggish economy – Total credit market debt above $55 trillion, few jobs for many unemployed, the student debt bubble, and long-term compression of wages.
The US economy is facing tremendous financial hurdles in the years to come. The current market is being held together by a flood of debt that is masking underlying issues. Total credit market debt is many times larger than our annual GDP. Student loan debt continues to expand unabated even though the return-on-investment for many […]
The burden of unsupportable debt. US debt-to-GDP growing at a pace rivaling certain European nations – The dramatic problems of peak debt in 2012.
What makes this global financial crisis unique is that it is based on unsustainable levels of debt. In historical cases you would have sovereign nations defaulting on their debts but these were more isolated and clustered, not global issues. Today virtually every large crisis that is hitting is occurring because of peak debt situations. No […]
Financial panic button for younger Americans – The sandwich generation saw a 59 percent decline to their net worth as they deal with college aged students living at home and elderly parents.
Unfortunately more data pointing to the deterioration of the middle class came out this week regarding net worth figures. One of the more ominous data points regarded the sandwich generation of those taking care of college aged kids and parents. The net worth figures this time released by the US Census coincide with the information […]