American households are in crisis mode as record jobholders struggle to make ends meet amidst soaring credit card delinquencies, painting a bleak picture of the nation’s financial health.
- Record number of Americans hold multiple jobs, yet still face desperate financial struggles.
- Credit card delinquency rates hit all-time highs, with nearly 3.5% of balances past due by at least 30 days.
- Serious delinquency rates on credit cards rise at the fastest pace since the Great Financial Crisis, signaling deepening financial woes.
- Stubbornly high rents thwart efforts by the Federal Reserve to combat inflation, prolonging the economic hardship faced by many households.
Sources:
Frightening statistic!
Now add the fact that multiple job holders are at an all-time high.
That tells you – even with multiple jobs, Americans are desperately struggling. pic.twitter.com/yL6A74IYCt
— JDO Post 🇺🇸 (@JDOPost) May 11, 2024
Are US consumers’ finances seriously stretched?
CORN: America Is Broken, and the Media Ain’t Helping…
Stubbornly High Rents Prevent Fed From Finishing Inflation Fight
For more than a year, the central bank has expected slowing rent increases to show up in official housing measures pic.twitter.com/Vm6HX9gr3b
— Win Smart, CFA (@WinfieldSmart) May 13, 2024
The consumer is tapped out and the Fed can’t cut rates 💀
2024 is going to be wild. pic.twitter.com/1ZZUZ4hjuN
— QE Infinity (@StealthQE4) May 12, 2024
Orange 🍊 Juice pic.twitter.com/UHpe32Tm4b
— Win Smart, CFA (@WinfieldSmart) May 13, 2024
2008 was a financial coup. t.co/XSQElwPyhn
— Peter St Onge, Ph.D. (@profstonge) May 12, 2024
David Hogg learns the hard truth of Bidenomics.
Housing costs way too damn much.
— David Hogg 🟧 (@davidhogg111) May 12, 2024