The End of the Peak Credit Era: 3 Quarters of Contracting Consumer Debt. Credit Card debt Contracts on a Year over Year Basis for First Time Ever.
There is a small silver lining in the unemployment report released on Friday. The positive side was the amount of people being fired slowed down in July (if you can call an annual rate of 3 million layoffs positive). However, there is still a major reluctance for firms to hire. We still have 26,000,000 unemployed […]
Atlas Vacant – The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults.
The commercial real estate bust is going to be legendary. We are talking trillions of dollars. The attention of Americans is being pulled away by massive market volatility that has seen the S&P 500 shoot up 44 percent in four months. Yet the U.S. Treasury and Federal Reserve have kept their eye on this market […]
Credit Card Companies Placing Financial Landmines for American Consumers: How I lost my 4.99 Percent Fixed Rate and got it Back.
Americans have a love affair with credit cards. Many Americans have more credit cards in their wallets than they do dollar bills. When 8,000,000 credit cards were yanked from circulation many consumers realized that this was a new era of austerity. Credit card debt otherwise known as revolving debt, peaked in September of 2008 at […]
$100,000 a Year Will Make you Go Broke with the California Tax System: Why California is a Fiscal Disaster. Broken Tax Structure built on Bubbles.
It is amazing how little attention on a national scale the California debacle is getting. California alone is the 8th largest economy in the world and contributes $1.8 trillion a year to the national GDP. In the mainstream press, all you hear is sound bites of “there goes California” yet the state is teetering on […]