The End of the Peak Credit Era: 3 Quarters of Contracting Consumer Debt. Credit Card debt Contracts on a Year over Year Basis for First Time Ever.
There is a small silver lining in the unemployment report released on Friday. The positive side was the amount of people being fired slowed down in July (if you can call an annual rate of 3 million layoffs positive). However, there is still a major reluctance for firms to hire. We still have 26,000,000 unemployed […]
FDIC Loan Report and Plan C: Nearly Half of the $7.7 trillion in Loans Outstanding at FDIC Insured Banks are in the form of Commercial Real Estate. USPS Contracting CRE Space. Drop in Restaurant Traffic.
The commercial real estate debacle is heating up. Although the market is cheering the better than expected drop in second quarter GDP, much of the reason for a less than spectacular fall came from the “G” in the equation, government spending. By the way, we revised Q1 GDP lower to -6.4 percent but not much […]
Atlas Vacant – The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults.
The commercial real estate bust is going to be legendary. We are talking trillions of dollars. The attention of Americans is being pulled away by massive market volatility that has seen the S&P 500 shoot up 44 percent in four months. Yet the U.S. Treasury and Federal Reserve have kept their eye on this market […]
Credit Card Companies Placing Financial Landmines for American Consumers: How I lost my 4.99 Percent Fixed Rate and got it Back.
Americans have a love affair with credit cards. Many Americans have more credit cards in their wallets than they do dollar bills. When 8,000,000 credit cards were yanked from circulation many consumers realized that this was a new era of austerity. Credit card debt otherwise known as revolving debt, peaked in September of 2008 at […]