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via CNBC: Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances spiked by $154 billion year over year, notching the largest …
These bastards are tightning up Just had my Chase Amazon Credit Card Limit Reduced from $12,000 ➡️ $500 Had for 5 years now. Started @ $1000➡️$5000➡️$12000 Scarry bastards More Info CC Age: 5 Yrs History: No Late Payments Utilization: 2-6K …
by Dismal-Jellyfish Source: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/ubs-is-least-efficient-bank-in-europe-in-q3-2023-79149692 The Swiss bank recorded a third-quarter cost-to-income ratio of 99.56%, representing a 10.61-percentage-point increase from the previous quarter. UBS posted a third-quarter net loss attributable to shareholders of $785 million, compared to a $1.73 billion profit booked …
The alarming contraction in bank credit, an event occurring only once in the past 50 years, adds a foreboding dimension to the rapid depletion of the 2 trillion-dollar Reverse Repo pot. As Wall Street grapples with financing challenges for Washington’s …
As economic uncertainties deepen, the latest findings from the Federal Reserve Bank of New York’s Credit Access Survey paint a concerning picture for consumers. The survey reveals a notable decline in credit demand, with weakening application rates and rising rejection …
by confoundedinterest17 Biden’s terrible economic policies and horrid fiscal managment has put stress on The Federal Reserve. The Federal Reserve paid an estimated $76 billion to the Treasury in 2022 while banks’ willingness to lend has plummeted. First, let’s look at Biden’s and …
The idea is that a digital currency, especially if fully controlled and monitored by a government, could raise issues related to surveillance and control over financial transactions. "I see central bank digital currency as the single biggest threat to human …
Bob Hoye is a trained geologist, successful resource investor and economic historian. Bob is the chief investment strategist for chartsandmarkets.com.
by mrmrmrj As you can see from the chart, a rise in bond yields typically ends with a financial accident. The most recent example is the 2018 global selloff that was sparked by the US Federal Reserve raising interest rates …
As we approach the new year, a shift toward credit risk is expected, replacing interest-rate concerns, according to Mohamed El-Erian. The recent steep drop in October’s Producer Price Index (PPI), the largest since April 2020 during the Covid lockdown, heightens …
When the yield on corporate bonds gets close to the yield on treasuries, it can signal that investors are choosing the safer treasuries over corporate bonds. This shift suggests that investors are favoring the lower-risk treasuries, leading to less investment …
Average credit card balances top $6,000, a 10-year high, as delinquencies rise. “Balances jumped 15% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, while the average balance per consumer hit $6,088, the highest in …
Credit card balances often misrepresent borrowing as they mainly indicate spending. Despite being a primary consumer payment method in the US, many pay off their full balances monthly. In 2022, credit card transactions reached $5.8 trillion, up 18% YoY due …
https://twitter.com/ElanderNews/status/1722588894875500921?ref_src=twsrc%5Etfw
When banks and companies extend $1 trillion in credit card debt and struggle to collect, it has far-reaching consequences. It leads to substantial financial losses, impacting profitability and lending capacity. Shareholders and investors witness a decline in the value of …
Another record credit card debt Collectively, Americans now owe $1.08 trillion on their credit cards, according to a report from the Federal Reserve Bank of New York. Steadily, persistently higher prices have caused consumers to spend down their savings and increasingly turn …
Corporate bankruptcies in the U.S. have surged by 30% over the past year, signaling the end of the easy money era and a sobering wake-up call for companies. Good Morning Everyone! Corporate bankruptcies in the U.S. rose by +30% over …
The United States is facing significant economic challenges, with record-high rates of consumer defaults on credit cards and car loans, reflecting the financial strain on many households. WARNING: The consumer is borrowing more than they can afford Default rate on …
by confoundedinterest17 Bidenomics is a windfall for the donor class (high rate of return on campaign contributions) while the middle class gets beaten to a pulp. Waiting for Biden to lean over and creepily whisper “It’s working!” Even though it …
by confoundedinterest17 Bidenomics is a windfall for the donor class (high rate of return on campaign contributions) while the middle class gets beaten to a pulp. Waiting for Biden to lean over and creepily whisper “It’s working!” Even though it …
The notion of “excess savings” appears to be unraveling as the U.S. Savings Rate took a notable hit in September. We can cancel the "excess savings" idiocy In Sept, the US Savings Rate collapsed from 4.0% to 3.4%, the lowest …
Probably Nothing A credit starved economy… https://t.co/ArAHmjtPei — The Macro Guy (@SagarSinghSetia) October 27, 2023 🇺🇸 US M2 money supply -3.58% YoY. In #recession and #depression territory! pic.twitter.com/EXWniNBrUu — Alex Joosten (@joosteninvestor) October 27, 2023
by confoundedinterest17 Bidenomics new theme song is “Addicted To Gov.” Bidenomics needs lots of Federal spending and borrowing to survive. But all this spending and borrowing is causing rapid price increases and other distortions. The US Federal government just added $600 billion …
Financial winter is coming. h/t Mayhem4Markets
The surge in US credit card debt, surpassing the significant $1 trillion threshold, is a cause for concern. This comes as the Federal Reserve has taken aggressive steps to raise interest rates, leading to credit card rates reaching an alarming …
Subprime is a fancy word for sh*t credit score. h/t Mayhem4Markets
The IRS has detailed tax dodging by the ultra-wealthy and says it recently squeezed 100 millionaires for $122 million in missing taxes, per BI. — Win Smart, CFA (@WinfieldSmart) October 25, 2023
by confoundedinterest17 Back in red? As US fiscal policy deteriorates further thanks to endless Federal spending (not to mention seemingly endless wars under Biden and Nobel Peace Prize winner Obama), we are seeing pain in the bank lending business. Commercial and …
The Euro Area’s economic woes deepen as it faces its lowest PMI levels in nearly three years, raising concerns of a looming recession. Euro zone banks are tightening credit standards due to worsening economic conditions and rising interest rates, resulting …
by confoundedinterest17 Its the Biden Bop! As Bidenomics continues its blitzkrieg on the US economy with the Federal government massively expanding its debt while households and business cut back on debt. The US government is the only sector to have notably …