Independent thinking for complex markets and current events
A financial tool that millions of Americans rely on, known as a credit score, could be hiding a sinister secret about your brain health, experts warn. A new study by the New York Federal Reserve and Georgetown University has uncovered a disturbing link between declining credit scores and the onset of Alzheimer’s disease and related dementias (ADRD). The research, …
CCC credit spreads have been on the rise. As of June 27, 2024, the ICE BofA CCC & Lower US High Yield Index Option-Adjusted Spread (OAS) stands at 9.44%. This spread represents the difference in yield between US dollar-denominated corporate debt rated CCC or below and the corresponding spot Treasury curve. The widening spread suggests increased risk …
SACRAMENTO, Calif. — Beginning Monday, a California law will require credit card networks like Visa and Mastercard to provide banks with special retail codes that can be assigned to gun stores in order to track their sales. But new laws will do the exact opposite in Georgia, Iowa, Tennessee and Wyoming by banning the use …
The financial landscape is in turmoil: credit card interest rates have surged to an unprecedented 21.47%, while credit card debt has crossed the $1 trillion mark. Personal interest payments have climbed to over $500 billion, signaling a looming consumer crisis. With excess savings depleted, the consumer’s financial health is more vulnerable than ever. Inflation remains …
The burden of debt on American households has reached staggering levels. As of 2024, U.S. households carry a colossal debt load of 17 trillion dollars. This debt bubble continues to expand, fueled by factors such as rising interest rates and inflation. Let’s delve into some key points: Household Debt Surge: In the last quarter alone, …
Non-bank financial institutions are increasingly posing risks to America’s big banks, according to a post on the New York Fed’s Liberty Street Economics blog. During times of heightened market-wide stress, non-banks seek term loans and lines of credit, putting pressure on banks to provide liquidity. This reliance on big banks could lead to “vectors of shock …
Although most US homeowners are immune from higher mortgage rates because they have fixed-rate mortgages, that’s not true for other types of credit. The delinquency rate on credit card loans is now the same as it was in 2010, a year when the unemployment rate was over 9%. pic.twitter.com/Nu2aobWKeB — Peter Berezin (@PeterBerezinBCA) June 14, …
According to The Wall Street Journal, U.S. consumers disputed approximately 105 million charges with credit card issuers last year, amounting to an estimated $11 billion. This represents a significant increase from the $7.2 billion disputed in 2019. The rise in disputes highlights consumers’ growing awareness of their rights, as federal law allows cardholders to challenge billing errors, unauthorized charges, and …
Credit card and auto loan debt delinquencies are stacking upThe only reason student loan delinquencies are at the lows, is because they are not reported until October 1, 2024As far as mortgages are concerned most are already locked into 3% rates. Let us see what this looks like… pic.twitter.com/pYy52fSK5J — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) …
The U.S. Farm Credit System is currently in a critical state, marked by alarming evidence of foreign interference and systemic manipulation. These issues extend beyond mere policy concerns, impacting national security and the stability of our food supply chain. 🚨🇺🇸 — AN IMPORTANT MESSAGE FROM TENNESSEE RANCHER + AG ATTORNEY DUSTIN KITTLE ON IMMEDIATE THREATS …
Vice President Kamala Harris recently announced an effort to ban medical debt from credit reports, which would ease a burden that disproportionately affects women and Black people. Here are the key points: Proposal Details: The Biden administration proposed a new rule through the Consumer Financial Protection Bureau (CFPB) to eliminate medical debt from credit reports. …
by confoundedinterest17 Under Bidenomics and Fed monetary “policies”, we now have the wreck of the US middle class. To begin with, America’s paychecks are bigger than 40 years ago, but purchasing power of those larger paychecks is about the sames as it was 40 years ago. Great job Washington DC!!! … NOT!!!! Meanwhile, credit card delinquencies …
Credit card delinquencies have surpassed pre-pandemic levels and continue to rise. Severe credit card delinquencies, those 90 days overdue, have now climbed to 10.7% — the highest since 2012, per CNN. — unusual_whales (@unusual_whales) June 6, 2024 Credit card delinquencies have surged beyond pre-pandemic levels. According to the Federal Reserve Bank of New York, the …
Credit card delinquency rates have been broadly rising since Q2 2021. The following figure shows the percentage of U.S. credit card debt in delinquency. This variable grew in every region we examined for the last three to seven quarters. For each region, the percentage of debt in delinquency has increased at least 32.2% in relative …
Source: fred.stlouisfed.org/graph/?g=1os7U Flashback to 2008? United Wholesale Mortgage Rolls Out 0% Down, Interest-Free Loan Scheme! What could possibly go wrong? Source : https://www.uwm.com/price-a-loan/exclusives/zero-down-purchase
Credit unions are run under NCUA guidelines while banks are FDIC. NCUA has stricter standards and are not for profit. Sounds like someone is upset they cant get their fingers in the money train. “The Independent Community Bankers of America (ICBA), led by President and CEO Rebeca Romero Rainey, has expressed concerns about the recent …
Credit card delinquencies are starting to go vertical pic.twitter.com/QcBcMdmbDF — QE Infinity (@StealthQE4) June 1, 2024 ‘We got to keep the consumer in the game’: Brian Moynihan worries about a spending slowdown Bank of America’s CEO says inflation has been sapping U.S. sentiment Bank of America Corp. Chief Executive Brian Moynihan said the economic …
Banks have been extending credit using a rule of thumb that a property’s operating income will be at least 8% of the loan every year, though other experts claim a 10% test is being applied to some newer loans. h/t TheNeighborhoodNerd
This article seems like an implicit warning against further credit weakness. However, credit is falling off a cliff NOT because nonbank financials are shifting to another source of funding, but because there is simply no credit demand in the economy given the deflationary context — Shanghai Macro Strategist (@ShanghaiMacro) May 30, 2024
I think people are going into massive credit card debt. — Robin Flynn (@RobinFlynn2014) May 30, 2024 Jamie thinks stagflation is now unavoidable at this point. Solid read pic.twitter.com/1GxmSzSVkv — QE Infinity (@StealthQE4) May 29, 2024 Article: https://t.co/4D8UiezEoi — E.J. Antoni, Ph.D. (@RealEJAntoni) May 30, 2024
Credit card companies are squeezing consumers with unprecedented interest rate hikes, thrusting millions into financial peril as expenses rise and incomes stagnate. https://www.youtube.com/watch?v=kQ_ooVuZsl4
The economic landscape has been severely impacted by a multitude of financial issues, starting with the credit crisis and credit crunch, which have led to significant credit tightening measures. The federal reserve has been actively monitoring the situation, as highlighted in The Atlantis Report, which sheds light on the stringent bank lending standards and increasing …
1 out of 7 Gen Z consumers saw their credit maxed out in Q1 2024, according to the New York Fed. This is the highest percentage since the 2020 pandemic lockdown. Meanwhile, 12% of Millennials have utilized over 90% of their credit limit, an even higher share than the pandemic.… pic.twitter.com/6CIE2eO8CR — The Kobeissi Letter …
You couldn’t possibly be referring to them simply not admitting everything was on fire… h/t Calm_Improvement659
If you were holding out for lower interest rates on credits cards or mortgages, expect to only see modest relief for the remainder of the year and much of 2025. That’s because the Federal Reserve is keeping its benchmark interest rate steady to discourage borrowing, which it will do until there’s more evidence that inflation …
Bankruptcies are hitting average American families, and U.S. businesses really hard in 2024, according to data from the U.S. Courts. Higher consumer prices are making Americans take on massive loads of debt just to get by, while businesses are being impacted by decreased sales and falling profits at a time costs continue to climb. The …
Have you noticed that pesky extra charge on your restaurant bill lately? It seems like every time you swipe your card to pay, you’re hit with a credit card surcharge. From neighborhood joints to high-end eateries, these fees are popping up everywhere. The truth is, credit card surcharges are on the rise in the restaurant …
Major US cities are incorporating cameras into streetlights and traffic lights, reminiscent of China’s surveillance system. In China, these cameras are used to enforce strict regulations like jaywalking, capturing detailed data including genetic information and photographs. Offenders face immediate fines deducted from their bank accounts and may suffer social consequences such as restricted access to …
The Biden administration claimed credit for negotiating a ceasefire today, though it was seen as more of a Hamas wishlist, with Israel not involved in the process. This move, perceived as desperate for a win, led to claims of victory by the administration’s supporters. The highly unpopular, pathetic Biden regime is so desperate for a …
