A hub for independent voices and signals
As Israel experiences a downgrade in its credit rating, a similar fate has befallen its leader. Prime Minister Netanyahu, once considered a respected statesman on the international stage, has lost his rating. And similar to Moody’s forecast, the forecast is …
via Bloomberg: Fears of a systemic credit event are growing among fund managers as alarms sound in property markets around the world. About one in six of those polled considers such a crunch to be the biggest tail risk facing …
via naturalnews New data from the Federal Reserve Bank of New York has found that credit card and auto debt delinquencies in the United States are soaring, especially among Americans aged 18 to 39. The Household Credit Report from the …
via Mike Shedlock: Credit card debt surged to a record high in the fourth quarter. Even more troubling is a steep climb in 90 day or longer delinquencies. Please consider the New York Fed Household Credit Report for the Fourth Quarter 2023, …
by confoundedinterest17 I think the Biden Presidency is nicely summed-up by Biden confusing France’s President Macron with former French President Mitterand. Particularly since Mitterand died in 1996. Is Biden seeing dead people?? Anyway, the Biden economy and his Bidenomic strategy is based …
Child Tax Credit Extension: House Approval, Senate Process, and Tax Refund Updates for 2024 https://www.youtube.com/watch?v=a1YuOJr3c3E
As inflation and steep interest rates persist, Americans are accumulating more credit card debt, with the New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit expected to reveal a new record exceeding $1.08 trillion. Despite Fed Chair …
via Mike Shedlock: Let’s discuss the latest BRICS silliness starting with the definition of BRICS. BRICS++ Economic Trading Block The term BRIC stand for Brazil, Russia, India, and China, a group of countries that have little in common other than seeing …
Mayor Eric Adams’ administration will soon start handing out pre-paid credit cards to migrant families being put up in Big Apple hotels, The Post has learned. The $53 million pilot program, run by the New Jersey company Mobility Capital Finance, will …
Hot tip: don’t have credit card debt h/t TonyLiberty
by confoundedinterest17 Oh Susie QT. The Fed loves you. And The Fed has put a spell on the economy. Where do we sit today? Bank credit growth has been negative for the last 26 weeks. As M2 Money growth has stalled. …
by Mike Shedlock More of This for More of That The GOP House Ways and Means Committee supports expanding child tax credits and an affordable housing expansion. In return, Democrats will allows the GOP to extend immediate 100% depreciation of …
Subprime Auto-Loan Delinquencies Rise to 2019 Levels: a Dive into Subprime Lending and Securitizations pic.twitter.com/A5gyIrxj3e — QUACK (@RichQuack) January 14, 2024 Credit Card Debt Climbs: 56 Million Americans in Prolonged Debt Amid Economic Pressures The credit card debt situation in …
Add in the buy now pay later loans at checkout, the subprime auto loans, the payday loans. The loan sharks never had it so good. Another new all-time high for consumer credit card interest rates pic.twitter.com/BWeavhTbEO — Liz Ann Sonders …
via Mike Shedlock: Total consumer credit, revolving credit, and credit card interest rates all hit new record highs in November. Consumer credit data from the Fed, chart by Mish Adjusted for inflation, revolving credit is approaching the record high hit …
Amidst growing concerns, the United States is witnessing an alarming surge in credit card debt, with 56 million Americans grappling with credit card balances for over a year. The Federal Reserve Bank of New York’s quarterly report reveals an unprecedented …
Real Time Credit Card 💳 Spending pic.twitter.com/wGZgxYaTGZ — Win Smart, CFA (@WinfieldSmart) January 3, 2024 Buying conditions have collapsed pic.twitter.com/jUZ7ebxaqM — Bravos Research (@bravosresearch) January 3, 2024 "The share of U.S. homebuyers looking to move to a different metro area …
Mark Spitznagel, chief investment officer of Universa Investments, issues a stark warning about the Federal Reserve’s actions, claiming they’ve inflated the “greatest credit bubble in human history.” In a recent interview, Spitznagel painted a grim picture of the U.S. economy, …
https://www.youtube.com/watch?v=chpLkWfL3pU In a startling turn of events, credit card companies are facing a crisis as they prepare for a significant policy change that could potentially cripple a substantial portion of their revenue. This impending shift, set to take effect in …
Consumers are opting for BNPL services despite potential financial risks. This is how you delay a banking collapse by continually extending credit. Yes, and these BNPL offerings are also happening as the personal savings rate has been in a downtrend …
The latest report from the Federal Reserve reveals a slowdown in U.S. consumer-credit growth for October. Consumer credit expanded at a 1.2% annual rate, a significant drop from the 3% rate observed in September. October saw a total consumer credit …
via JAMES RICKARDS: Are gold prices and interest rates joined at the hip? Based on recent market action, it would appear the answer is: yes. A major rally in gold is now underway. Gold moved from $1,831 per ounce on …
by kabkar1234 I called in to reduce my cash advance limit to the lowest possible amount and I was told $200 is the lowest I can do. I told the agent to proceed. As I refreshed my screen I noted …
by yourmomsaccountant I’ve created a personal finance tracking spreadsheet that tracks all of my financial activity for the year (2023). Based on the numbers, I have net purchases amounting to $59,767.76. Because I pay the statement balance off in full …
by GreggraffinCI https://fredblog.stlouisfed.org/2023/12/three-measures-of-us-credit-card-debt/#:~:text=In%202023%2C%20outstanding%20credit%20card,for%20consumer%20spending%20going%20forward. From a disposable income standpoint the Fed data agrees that the consumer is better able to service their debt now than they ever have. That peaked during the stimmie checks but that gap has closed from -25% …
Credit card spending has taken a nosedive, officially entering contraction territory, despite a reported 35% surge in retail sales above pre-pandemic levels. The discrepancy between retail sales growth and the significant decline in credit card transactions reveals a stark contrast …
