debt

Yellen calls rising credit card debt the sign of a strong consumer. No, Janet, it means tapped out consumers are sinking further into debt they can’t possibly repay.

The US has $17.1 trillion in household debt, $12.0 trillion in mortgages, $1.6 trillion in auto loans, $1.6 trillion in student loans, and $1.0 trillion in credit card debt. pic.twitter.com/xU9iQN2f5f — MapleMAGA 🇨🇦🇺🇸 (@MapleMAGAw5) August 8, 2023 US Total Household Debt Hits an All-Time High of $17 Trillion; Credit Card Debt Also Sets New Record …

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US government revenue is $5 trillion annually, with 42% of it coming from personal income taxes, requiring half to pay interest on the $33 trillion debt.

Total US govt revenue is about $5 trillion per year from all sources. Personal income taxes are about 42% of the total, so around $2.1 trillion. So roughly 1/2 of all personal income taxes collected by the US govt is going to pay interest on the $33 trillion national debt. — Wall Street Mav (@WallStreetMav) …

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2023 financial statistics show record high US debt, $1 trillion annual interest expense, high credit card debt, and 20.69% average interest rate.

Alarming Financial Stats of 2023: – U.S debt at record high – Interest expense on U.S debt to reach a record $1 trillion annually– Credit card debt at record high – Average credit card interest rate at a record 20.69%  These are records we don’t want to be setting 🙈 pic.twitter.com/B5Aoaj4FFV — Genevieve Roch-Decter, CFA (@GRDecter) August 2, …

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Pop quiz, Millennials & Gen-Zs: who do you think is going to be saddled with the mountain of debt?

Ok, this is the 'scary chart of the week' floating around, interest payments. Q2 2023 interest of $969.9B on $31.5T of debt. Yellen's outfit just announced another $1 trillion of new debt by end of Q3. Maybe the problem is too much debt? Heretical concept, I realize. pic.twitter.com/a0fyhPuYe9 — Rudy Havenstein, Senior Markets Commentator. (@RudyHavenstein) …

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Treasury Alert! $1.859 trillion is what Treasury expects to borrow the rest of the year. For the 3rd quarter, Treasury expects to borrow $1.007 trillion in privately-held net marketable debt. For the 4th quarter Treasury expects to borrow $852 billion in privately-held net marketable debt.

by Dismal-Jellyfish Source: https://home.treasury.gov/news/press-releases/jy1662 The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1]for the July – September 2023 and October – December 2023 quarters. During the July – September 2023 quarter, Treasury expects to borrow $1.007 trillion in privately-held net marketable debt, assuming an end-of-September cash balance of $650 billion.[2]  …

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The US national debt has increased by $1.8 trillion since the “debt ceiling crisis”. They did it in less than 2 months. At this rate, in 3 months, the debt will be 4 trillion. US Treasury is issuing $102B of long-duration bonds in the upcoming weeks.

by RedditIsOwendByTheWS The government now lives from month to month. soon it will be from week to week. Then from day to day. and finally from hour to hour. Source : Traders Brace for $102 Billion Wave of Treasury Bond Sales – Bloomberg

U.S. Bank lending on the decline! Commercial and Industrial loans slide for two weeks straight. Meanwhile, GDP up 2.4% last quarter? Is it sustainable growth or fueled by mounting debt? #Economy #BankLending #GDP #Debt”

by Dismal-Jellyfish Reminder, while banks have the liquidity fairy, ‘we’ get the promise of 2 more rate hikes this year, Atlanta Fed President Raphael Bostic yet again enrichens himself inappropriately from his position. What I want to talk about this afternoon is–Commercial and Industrial Loans, All Commercial Banks. What are Commercial and Industrial Loans? Commercial and Industrial (C&I) …

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Corporate net interest payments stay low due to fixed debt, higher interest rates slow to drive a recession

This chart is FASCINATING! Corporates have seen NET INTEREST payments fall bc they fixed debt when rates were low (2020/21) and now are benefitting from higher rates on their cash. A reason why higher interest rates slow to drive a #recession. Thoughts @KeithMcCullough? pic.twitter.com/Ulm9RK2ch7 — Enrique Abeyta (@enriqueabeyta) July 22, 2023

Bloomberg: Real Estate a “Debt Time Bomb”

“The urban doom loop is accelerating. As commercial buildings empty and default, tax revenue declines, defunding city services like police, fire safety, and more.” The urban doom loop is accelerating. As commercial buildings empty and default, tax revenue declines, defunding city services like police, fire safety, and more. 🔊 https://t.co/ZO4wb5w9zu — Wall Street Mav (@WallStreetMav) …

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Addicted To Gov! Mortgage Rates UP 150% Under Biden, 10Y-2Y Most Inverted Since 1981 (Unfunded Liabilities 5x National Debt) Gold, Silver UP

by confoundedinterest17 Its the 4th of July, American Independence Day from England, but under Biden and The Federal Reserve, Americans are DEPENDENT on debt and Federal spending. In other words, Americans are addicted to gov. First, Bankrate’s 30-year mortgage rate index is up 150% under Biden. You can see the rapid rise in mortgage rates started …

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Republicans should propose a bill to tax college endowments to reduce student debt.

“If Republicans were smart, they would propose a bill to pay down student loans by seizing college endowments. The newly debt-free would be able to afford families, turning them Republican. And universities would pay for the debt they saddled students with, not taxpayers.” After all, why should university endowments compound tax-free when student loans can’t …

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Unsustainable debt: Interest on the debt was $61 billion in May, more than the combined spending on veterans benefits, education, and transportation

Interest costs are a quarter of the deficit, leading to unsustainable debt. Latest US Treasury data show we're on unsustainable path: interest on the debt was a whopping $61 billion in May, more than was spent on veterans benefits and services, education, and transportation COMBINED; interest costs were a quarter of the deficit last month: …

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In April, consumer credit (AKA consumer DEBT) increased at a seasonally adjusted annual rate of 5.7%. Revolving credit (credit cards) increased at an annual rate of 13.1% , while nonrevolving credit (student loans, personal loans, mortgages) increased at an annual rate of 3.2%.

by Dismal-Jellyfish Source: https://www.federalreserve.gov/releases/g19/current/g19.pdf Remember, From 1st quarter 2022 to 1st quarter 2023, total household debt has increased $1,205 billion to $17.05 trillion (+7.57%)–Mortgage balances ($864 billion), HELOC ($22 billion), Student loans ($14 billion), Auto loans ($93 billion), Credit Card debt ($145 billion), Other ($67 billion): Total household debt has risen by $148 billion, or 0.9 percent, …

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The U.S. Government is in deep Ponzi scheme territory due to debt and interest payments. Pretty soon the government will have to issue debt to just service the debt!

Pretty soon the government will have to issue debt to just service the debt!!! If the U.S. Government is already running a yearly ~$1.5+ trillion budget deficit and you suddenly have ~$1.5+ trillion in yearly interest payments on the debt, you are in deep Ponzi scheme territory! https://t.co/fdZDB0bUgr — Peter Spina ⚒ GoldSeek | SilverSeek …

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Warning: the Debt “Deal” Opens the Door to Unlimited Spending

by Phoenix Capital Research It’s worse than I imagined. I had initially thought that the current debt ceiling deal would feature a small amount of spending cuts in 2024.  In reality, it will feature NO CUTS and will in fact open the door to as much spending as the Biden Whitehouse desires. How is this possible? A single line in the …

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U.S. credit card debt has increased by $250 billion in two years. U.S. consumer debt piles up to $17 Trillion!

Everyone's talking about how the U.S just hit $1 trillion in total credit card debt But what's more concerning: That number has increased by +$250 billion in just 2 years This doesn't end well pic.twitter.com/LK7oUrne2D — Genevieve Roch-Decter, CFA (@GRDecter) May 31, 2023 U.S. Consumer Debt Piles up to $17 Trillion More, more, more. According …

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Biden’s Economy! ISM Manufacturing In May Falls To 46.9, 7th Straight Month Of Contraction (McCarthy Surrenders To Biden And Allows 2 Years Of Uncontrolled Spending And Debt)

by confoundedinterest17 Another day under Biden/Yellen. Last night, “Republicans” joined Democrats to allow unlimited Federal spending and debt for the next two years. Way to go “Benedict McCarthy”! But today, we saw that ISM Manufacturing printed at 46.9 for May, the 7th consecutive month of contraction. Meanwhile, the Biden family twists the night away while Americans are ravished by inflation caused by bad …

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No need to wait for the debt ceiling deal vote to send military aid to Ukraine

WHITE HOUSE'S KIRBY: U.S. ANNOUNCING ADDITIONAL AID PACKAGE FOR UKRAINE No need to wait for the debt ceiling deal vote — zerohedge (@zerohedge) May 31, 2023 White House: “Horrible things will happen if the US Treasury runs out of cash”. Also WH: “We’re sending 1% of our remaining cash to Ukraine”. To know what people …

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