Corporations are just raking in the profits and sitting on them. The household sector, on the other hand, is a rolling catastrophe. Austerity has meant falling wages, less government spending on social services (or anything else), and higher de facto taxes. Show More Summary
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. The Federal Reserve Bank of New York released a study revealing that total household debt in the US has risen above recessionary highs. Show More Summary
U.S. data for household debt for 2Q 2017 is out at last, and the likes of Reuters and there best of the official business media are shouting over each other about the ‘record debt levels’ warnings. The post Year Eight of the Great American Recovery: Household Debt was originally published at The Wall Street Examiner. Follow the money!
From the NY Fed: Household Borrowing Grows Modestly; Credit Card Delinquencies RiseThe CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt rose by $114 billion (0.9 percent) to $12.84 trillion in the second quarter of 2017. Show More Summary
The Imaginary Debt Crisis Is Here to Stay Household borrowing has reached new records. Big deal. Personal income has grown much more. Bloomberg, August 16, 2017 Now that we have surpassed 2008 highs in household debt, I guess we are due for a panic attack. Show More Summary
More on this later... The post Quarterly Report on Household Debt and Credit 2017:Q2 appeared first on The Big Picture.
While everyone is focusing on political issues, the NY Fed published a stunning report on the state of the US consumer. According to the NY Fed, the average US household has hit a new record for debt, surpassing the old record set at...Show More Summary
@TBPInvictus here: A recent column in the Washington Post – Consumer debt is at a record high. Haven’t we learned? – sounded the alarm on households’ revolving credit debt, which has just now modestly eclipsed its prior peak. The current level is about $1.02 trillion. Show More Summary
The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit, which reported that total household debt increased by $114 billion (0.9%) to $12.84 trillion in the second quarter of 2017. The post...Show More Summary
After we first reported last week that US credit card debt hit a new all time high with both student and auto loans rising to fresh records with every new report... ... it won't come as a surprise that according to the just releasedShow More Summary
Since [the 2008 crisis], China's massive money supply, urbanisation and a mortgage loan boom have resulted in a hefty rise in household debt, which is now equivalent to 44.4 per cent of national gross domestic product, triple the level...Show More Summary
With property the only reliable investment channel in China, leverage and risk in the country are growing.
Survivor's Fortress Survivor's Fortress - Prepare for Everything - Ready for Anything Preparedness isn’t just keeping a 72-hour kit in your garage. Multiple components go into being truly prepared, including making sure that finances are in order. Show More Summary
Authored by Michael Snyder via The Economic Collapse blog, We are living in the greatest debt bubble in the history of the world. In 1980, total government and personal debt in the United States was just over the 3 trillion dollar mark, but today it has surpassed 41 trillion dollars. Show More Summary
Why Surging UK Household Debt Will Cause The Next Crisis - Easy credit offered by UK banks is endangering “everyone else in the economy”- UK banks are “dicing with the spiral of complacency” again- Bank of England official believes household...Show More Summary
LONDON — Labour MP Rachel Reeves, head of an influential parliamentary committee on business, added her voice to the growing chorus of alarm on consumer debt in the UK. Reeves, who was an economist with HBOS during its bailout at the...Show More Summary
A tax plan consistent with the outline presented by the Trump Administration in April could add as much as $7.8 trillion to the debt over the next decade, mostly benefit the highest income households.
Like seemingly most American households, the Kelchens get far more junk in the mail than actual mail of value. We get about as many credit card applications as our shredder can handle, as well as folks trying to sell us a broad array of products and services. But letters that mention student loan debt and... Read more »
Credit booms tend to go hand in hand with a misallocation of resources – most notably towards the construction sector – and a slowdown in productivity growth, with long-lasting adverse effects on the real economy.