Independent thinking for complex markets and current events
California’s film and TV industry is facing a major crisis in 2024, with production levels plummeting. Series production dropped by 30% in the first quarter of 2024 compared to 2022, and on-location filming for reality TV in Los Angeles fell by nearly 57% in the second quarter. The industry, already hit hard by the pandemic …
Is Donald Trump on track to win a historic share of voters of color in November’s presidential election? On the surface, it’s one of the most confounding questions of the Trump years in American politics. Trump — and the Republican Party in his thrall — has embraced anti-immigrant policies and proposals, peddled racist stereotypes, and …
10 Commandments Of Credit Card Rewards by The Point’s Guy 1. Thou shalt pay thy balance in full. 2. Thou shalt not miss a payment. 3. Thou shalt not cancel a card before thou hast opened a new one. 4. Thou shalt not cancel a card and lose thy points and miles. 5. Thou shalt not allow thy rewards to …
Legitimate Debt Relief Companies Legitimate debt relief companies design programs that will give you relief from debt. One way they do this is by negotiating with your creditors to accept less than the total amount if you agree to pay the negotiated amount. The debt company’s goal is to have your debt discharged for less …
https://www.youtube.com/watch?v=LN9KaSQMQvA The United States is grappling with an unprecedented financial crisis, with up to 50 million Americans defaulting on their debts. This has triggered significant disruption in the nation’s credit system, causing widespread economic instability. Lenders are scrambling to contain the fallout, while consumers are overwhelmed by growing debt. Although the American economy has weathered …
https://www.sec.gov/newsroom/press-releases/2024-114#:~:text=The%20firms%20admitted%20the%20facts,implementing%20improvements%20to%20their%20compliance TL;DR: Six credit rating agencies charged by SEC for recordkeeping failures. Firms admit wrongdoing and pay over $49 million in penalties. Moody’s, S&P Global, Fitch, HR Ratings, A.M. Best, and Demotech involved. Most firms required to retain compliance consultants. SEC emphasizes importance of recordkeeping for investor protection. BREAKING: The SEC has charged six credit …
i feel better now — steph pomboy (@spomboy) August 29, 2024 A debt crisis always leads to a currency crisis, bringing inflation, asset and debt implosion, political and geopolitical instability, social unrest, and even wars. We're closer to this risk than ever. — Egon von Greyerz (@GoldSwitzerland) August 29, 2024
Consumer Credit Card Debt Continues to Grow Consumer credit card debt in the US continues its upward trajectory, reaching a staggering $1.07 trillion as of August 14, 2024. This marks another milestone in the ongoing trend of rising consumer debt, though there are signs that… pic.twitter.com/Il5SBi52Zl — Reef Insights (@ReefInsights) August 27, 2024
https://www.youtube.com/watch?v=-QvAdTYMPJI Millions Are Seriously Struggling Now After Credit Crisis Worsens. The U.S. economy is facing a severe credit crisis, as 75 million people have stopped paying their debts, according to a recent report by the Consumer Financial Protection Bureau. The report reveals that millions of Americans are struggling to repay their loans, mortgages, credit cards, …
https://www.youtube.com/watch?v=qxlEHZ5AAd8 Sarah Torres was already in tears before our interview started — a sign of the severe stress she’s been under the last several weeks. She and her husband, Ruben, own Craft30 bar on Michigan Avenue in Sheboygan. Although Sarah wasn’t sure about going into the tavern business at first, she’s come to appreciate it …
https://fred.stlouisfed.org/series/DRCCLACBS Large banks are doing better, although delinquencies have risen quite bit recently. Still concerning for the 4400 other banks. Delinquency transition rates for credit cards, auto loans, and mortgages increased slightly in the second quater of 2024, per the Fed. Over the last year, approximately 9.1% of credit card balances and 8.0% of auto …
The average consumer now carries $6,329 in credit card debt . These are the 10 states with the largest average debt… byu/Mrbumboleh inRealReBubble
by confoundedinterest17 This will not end well. We’ve got trouble in (Potomac) River City! Credit card interest rates have skyrocketed to a shocking 21.51%. Moreover, credit card debt has hit record highs1.51%.
By Martin Armstrong The Federal Reserve Bank of New York released data this week indicating that American credit card debt has reached a new high of $1.14 trillion. A separate report from TransUnion has found that the average American is carrying $6,329 in personal credit card debt, a 4.8% uptick from last year. The vice …
Guy with 400 credit and borrowed down payment threatens dealership sales guy because he offers him an SXT instead of a hellcat lol 40 years of ZIRP have made broke Americans delusional pic.twitter.com/arPrrm6oAh — Darth Powell (@VladTheInflator) August 3, 2024 OMG https://t.co/RJygSkxWJA — Darth Powell (@VladTheInflator) August 10, 2024
by Dismal-Jellyfish TLDRS: Consumer credit increased at a seasonally adjusted annual rate of 2.4 percent during the second quarter. Revolving credit (credit cards) increased at an annual rate of 1.2 percent. Nonrevolving credit increased at an annual rate of 2.9 percent. In June, consumer credit increased at an annual rate of 2.1 percent. Consumer Credit …
by Mike Maharrey America runs on debt. And American consumers may be getting close to their credit card limits, yet another signal the U.S. economy could be teetering on the brink of a recession. (If it’s not there already.) According to the latest data released by the Federal Reserve, revolving credit cratered in June for the …
U.S. household debt has reached a record $17.8 trillion as of the second quarter of 2024. This includes significant increases in mortgage balances, auto loans, and credit card debt. Regarding delinquencies, there has been a notable rise. Serious delinquencies (90 days or more overdue) for credit card debt have surged to 7.18%, and auto loan delinquencies have also …
Interesting video from The Wall Street Journal on co-branded credit cards. “From Apple and Goldman Sachs to Bilt and Wells Fargo, high-profile credit card partnership missteps reveal how risky these deals between brands and banks can be. Almost 30% of adults own co-branded credit cards as customers can earn different rewards like discounts or free …
"The formula for current U3 doesn’t included immigration after 2022" So unemployment is worse if you include all the illegals Biden let in https://t.co/mMLn70eql7 — Darth Powell (@VladTheInflator) August 7, 2024 It's strange that credit card delinquencies are rising without much unemployment. Normally dq's follow job losses. pic.twitter.com/ksJHYL6OWX — Random Walk (@MosesSternstein) August 7, 2024
Re: Carbon Credit sham ….in the least shocking news of the day …. Offsets Market Faces Upheaval as Third of All Credits Fail Test – Bloomberg pic.twitter.com/4Ygtkjxobn — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) August 6, 2024 The United States does not have a national cap and trade policy or a carbon market of its own. …
Americans who want to tap the rising equity of their homes without giving up their low mortgage rates are increasingly turning to home equity lines of credit. High borrowing costs led to fewer mortgage originations in the second quarter, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit …
"US data consistency surprising to the downside since May has re-kindled recession concerns among US credit investors." – BofA Seliger pic.twitter.com/I4Wkn40UWg — Daily Chartbook (@dailychartbook) July 29, 2024 "The US economy is slowing, which is just fine with the Fed," per Bloomberg. — unusual_whales (@unusual_whales) July 29, 2024 BREAKING: Personal saving rate declined to 3.4% …
They allowed you to do this in stores in the past, but not online It is now being made available in the app for online purchases — Amy Nixon (@texasrunnerDFW) July 23, 2024
by Parking-Ice-9206 So I spent the past few days making a chart of every single US Airline Co-branded credit card and I have realized just how much they suck at earning points. It seems in virtually every category there is a transferable currency card that can earn the same if not more than what the …
https://twitter.com/1CoastalJournal/status/1811757149430640912 https://twitter.com/17296Jay18416/status/1811729236350111902 📈 Earnings Alert $JPM – JPMorgan 2Q Provision for Credit Losses Misses Estimates:∙ Provision for credit losses $3.05b, est $2.83b ∙ Adj revenue $50.99b ∙ Return on equity 23%, est 17.4%https://t.co/ZPPGNUWwcQ pic.twitter.com/vL1LqMwA2c — Smartkarma (@smartkarma) July 12, 2024 We are now to believe that an imploding economy will be good for banks and …
Ben Shapiro, have to give him credit for this one liner. Eric Swalwell is completely caught off guard. This Project 2025 garbage is getting ridiculous. Trump has nothing to do with it.pic.twitter.com/EA6v1X6WzX — Citizen Free Press (@CitizenFreePres) July 10, 2024
Spot on. Many companies are banking on Fed cuts to ease their debt burdens, but higher credit spreads could still pose a significant risk — Blue&White (@LiorBershtling) July 11, 2024 Don’t panic, that’s the Private Equity arm of $GS not the bank 🙅🏻♂️ Narrator: mmmmmm…. Great catch @kshaughnessy2 👏🏻 https://t.co/nb2Qudpz7X pic.twitter.com/1DZCQZ8Ifv — JustDario 🏊♂️ (@DarioCpx) …
The Idaho Central Credit Union (ICCU) recently faced scrutiny due to their member agreement that initially prohibited using ICCU accounts for firearm and ammunition purchases. However, after receiving feedback and feeling the heat, they promptly revised their terms and conditions. Gone is the verbiage prohibiting firearm and ammunition purchases, crypto, and controlled substances. However, ICCU still prohibits using …
The first modern U.S. credit card was launched in 1950, but women weren’t allowed to open credit cards until 1974. The Equal Credit Opportunity Act of 1974 made it illegal to deny credit to people based on gender, race, religion or national origin. Credit cards might seem like an inescapable part of everyday life, but …