Independent thinking for complex markets and current events
Temeika Clay couldn’t understand why her car insurance premium shot up 80 percent. The Henry County, Georgia, resident did some digging and obtained the LexisNexis credit report for her Chevy Camaro. The credit report revealed GM had collected data about her driving tendencies and made the information available to insurance companies. “Never did I imagine …
Tucker Carlson’s scathing expose reveals how credit card companies exploit Americans with hidden fees, driving them into debt. Senators Vance, Marshal, and Hawley lead the charge for change with the Credit Card Competition Act, aiming to alleviate the burden on consumers. Meanwhile, alarming spikes in delinquency rates at major issuers like Discover Financial signal economic …
As US credit card debt breaches the $1 trillion mark, the juxtaposition of this financial burden against heightened economic sentiment on Twitter raises questions about the nation’s financial health. US credit card debt is skyrocketing past $1 TRILLION. People are literally living and surviving on credit card debt. How is this sustainable? Do you use …
Social credit how it starts. Canada 👇 pic.twitter.com/H7exTARrz8 — Darren of Plymouth (@DarrenPlymouth) April 22, 2024 View post on imgur.com View post on imgur.com View post on imgur.com People will become obsessed with their score they need to maintain a certain number or they will be locked out of the system and punished for being …
The Federal Reserve just released a new study showing that credit card default rates in America have surged up to the highest level on record. In some cases – even worse than what we saw in 2008. These skyrocketing credit card defaults are an ominous sign of the US Economy and Consumers. Particularly for those …
The United States is facing an unprecedented financial crisis. As many as 50 million Americans have stopped paying their creditors, causing a massive disruption in the country’s credit system. This development has sent shockwaves throughout the economy, with lenders trying to minimize the damage while consumers struggle to manage their increasing debts. The American economy …
from Kerry Lutz’s Financial Survival Network Kerry talks to Paul Oster about a range of financial topics, including declining credit scores, evolving pricing strategies of retail stores, student loan debt, housing market concerns, psychological and societal factors in financial decision-making, budgeting for groceries, and debt repayment and financial planning. Speakers emphasized the need for individuals to take control …
With credit spreads on the rise and the 10-year TIP trading at 2.2%, financial conditions are tightening, sparking concerns among investors. While systematic funds tread cautiously amid thinning market depth, the next fortnight looms as a critical period. Contrary to expectations, inflationary fears drive Treasury yields up, leading to a plunge in stocks and a …
The Federal Reserve Bank of Philadelphia’s report reveals alarming trends, with almost 3.5% of card balances overdue by at least 30 days, the highest on record. This surge in delinquencies, coupled with rising minimum payments and increased credit card balances, underscores the growing financial strain on US households. BREAKING: 🇺🇸 US credit card delinquency rates …
Unbelievable loose financial conditions in Europe! pic.twitter.com/2ZRYhY63Ov — The Macro Guy (@SagarSinghSetia) April 9, 2024 Credit impulse in the euro area stabilizes, easing pressure to cut rates. via Bloomberg pic.twitter.com/OQcF42Bzk4 — Daniel Lacalle (@dlacalle_IA) April 9, 2024
More low income earners in the Us are not dining out, per Reuters: pic.twitter.com/oAbUo1h9D0 — unusual_whales (@unusual_whales) April 8, 2024 “Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald’s (MCD.N), opens new tab and Wendy’s (WEN.O), opens new tab recently said they …
Credit card interest rates just hit a new record high in Feb – American families are paying over $240 billion a year just in interest on this debt, before a single dime goes to paying down the principal: pic.twitter.com/N6UxBnyZcl — E.J. Antoni, Ph.D. (@RealEJAntoni) April 6, 2024 https://twitter.com/WallStreetSilv/status/1776411944087384164 https://twitter.com/StealthQE4/status/1776409323754729972 "Can someone explain to me why …
The US credit card debt has already reached $1.1 trillion in March, an all-time record. Moreover, even when adjusted for inflation this debt has hit a record, surpassing the 2020 levels. Are US consumers' finances seriously stretched? Full analysis below👇 pic.twitter.com/cPrbTdAcy3 — Global Markets Investor (@GlobalMktObserv) April 3, 2024 Are US consumers’ finances seriously stretched? …
A lawsuit against major credit card companies, like Visa and Mastercard, has sent shockwaves through the financial industry. Interchange fees, which are transaction charges merchants must pay every time a customer uses a credit or debit card, have been a contentious issue in the retail industry. Retailers have argued that these fees are excessively high, …
Highest YoY Rise in Credit Card Delinquency Rates Below, you'll find a chart showing the year-over-year (YoY) change in credit card delinquency rates. As of Q3 2023, the YoY change stands at 43%. This rapid rise has never occurred. Credit card delinquency rates are currently… pic.twitter.com/FUWyLsmsvW — Reef Insights (@ReefInsights) February 12, 2024 U.S. 🇺🇲 …
Fed-up Americans are fleeing major banks in favor of credit unions after becoming tired of low interest rates and dwindling branch numbers. Some 1,500 traditional bank branches closed across the US last year as part of an ongoing and industry-wide cost-cutting strategy, driven largely by the rise of internet banking. But the country’s credit unions …
Personal credit card debt hits $1 trillion; student loan repayments resume; rent and wages stagnate; emergency funds lacking. Ye, its bad! This is gonna have to stop at some point and that’s when the fun begins. Wages haven’t kept up with inflation for like the last half century. Four months ago Delinquencies rise on mortgages, …
This trend raises alarm about the broader risks from interlinked dependencies. LONDON, March 14 (Reuters) – Europe’s private credit funds are increasingly borrowing from banks to boost their performance, fuelling concerns about the wider risks posed by this interconnectedness. A record 80% of new European private credit funds borrowed from banks via ‘subscription lines’ in …
The Swiss government-sponsored rescue of Credit Suisse and U.S. bank salvages in March 2023 doused the immediate fires kindled by a run at little-known U.S. regional lender Silicon Valley Bank. But regulators and lawmakers are only starting to address how banks could better withstand deposit runs, and whether they need easier access to emergency cash. …
Additionally, US consumer SERIOUS (90+ days) delinquency rates in auto loans and credit card debt for the most productive cohort (18-39) have been the highest since the Great Financial Crisis The mighty US consumer is getting through some notable issueshttps://t.co/puJCEOhOzW — Global Markets Investor (@GlobalMktObserv) March 11, 2024
By Martin Armstrong The Biden Administration implemented a new rule that will cap credit card late fees at $8. The Consumer Financial Protection Bureau has praised the measure, estimating it will save Americans over $10 billion annually in late fees, or around $220 annually per person as 45 million Americans have experienced these fees within …
Only thing this will do is increase home prices by $10k. Biden to propose $5,000 credit for first-time home buyers, per WaPo — unusual_whales (@unusual_whales) March 7, 2024 h/t saryiahan
NEW YORK (AP) — The Biden administration announced a rule Tuesday to cap all credit card late fees, the latest effort in the White House push to end what it has called junk fees and a move that regulators say will save Americans up to $10 billion a year. The Consumer Financial Protection Bureau’s …
A lot of Texans are falling behind on their credit card bills 😬 pic.twitter.com/NJZLFvlJjY — Amy Nixon (@texasrunnerDFW) March 4, 2024 In the Texas economy this is really amplified. Lots of 50k millionaires driving 80k trucks — Amy Nixon (@texasrunnerDFW) March 4, 2024
via naturalnews Experts have warned that a “naive” plan by U.S. President Joe Biden to allegedly boost the American renewables industry is actually a gift to China. According to the Daily Mail, the plan costing $1.2 trillion in taxpayer money was designed to improve American competitiveness in sectors that China currently dominates, including solar panels and electric …
Petrol stations around the country are up and running again following a day-long leap-year glitch which saw card payment machines go down for more than 10 hours. Allied Petroleum, Gull, Z, Waitomo and other fuel stops around New Zealand reported problems with card payments on Thursday because of a software glitch they said was caused …
Millennials Are Losing Their Cars. Billing disputes surged year-on-year among Gen X and Millennials, LegalShield said, who have experienced a 96 percent increase in billing inquiries. Calls are up across the board as well, with a 53 percent increase among all LegalShield members, indicating a broader rise in billing-related issues. John Saltarelli, a LegalShield provider …
Following Moody’s suit, US ratings agency Fitch’s economic analysts have opted to lower “Israel’s” credit rating given the current wartime conditions, unless persuaded otherwise in last-minute discussions with senior economic officials to delay the downgrade, the Israeli Ynet news website reported on Thursday. In early February, Moody’s downgraded “Israel’s” credit rating due to the impact …
NYC has announced a program to provide prepaid credit cards to families. But although the program will cost $53 Million, it could be cheaper than the city’s other options for providing food and baby supplies.
