The financial feeding of the massively indebted American: Consumer credit owed hits record, permanently high gas prices, and feeding empty promises with food stamp outlays up 600% from 2000.
Americans are now fully engaged, once again, in their consumption ways financed by debt. To continue pretending that the middle class is not shrinking, massive amounts of debt are being pumped into the system once again. Total consumer debt has reached another peak but the reason this has peaked is very troubling. Over the last […]
Detroit files for bankruptcy while S&P 500 hits record high: The bifurcation of the American economy and the long decline of the American manufacturing base.
The US is full of economic dichotomies. The DOW hit a peak when food stamp usage peaked. Incomes for the wealthiest are reaching record levels while the median household income has fallen back to levels last seen in the mid-1990s. And today, the once manufacturing powerhouse of Detroit is filing for bankruptcy at the exact […]
The debt reckoning has arrived: Total debt owed now approaches $60 trillion while Fed wrestles with interest rate confidence game.
Some people may be oblivious to the recent historical interest rate moves being experienced in the bond markets. Many on Wall Street probably assumed that the Fed had an unlimited ability to pull the wool over the eyes of the American public. Yet the reaction with interest rates concludes an interesting chapter in American central […]
Has the US lost control on debt market growth? Unbridled debt expansion at the nucleus of rising debt inequality in the United States. US total credit market debt now over 3 times larger than annual GDP.
There is one charge that can never be leveled against Americans and that would be that we somehow have an aversion to debt. To the contrary, our love with debt has blossomed into a full blow addiction. People confuse access to debt with actual real wealth. However as the foreclosure crisis has taught millions, you […]