Staggering Consumer Debt Nearing Recession Levels
Debt Trifecta At All-Time Highs – Billionaires Panic. – Consumer debt total consumer debt is near $4 trillion, and has been rising steadily since 1975. But it has risen a staggering 47% since 2008, and shows no signs of stopping.
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2019 Credit Card Debt Statistics in the U.S. – Lexington Law – The outstanding revolving consumer credit is growing at a staggering rate and has surpassed revolving credit owed during the 2008 Great Recession. Luckily, credit card default rates are down from the 6.7 percent peak during the Great Recession, but a large amount of revolving debt is not a good sign for the future.
There’s a $6.6 trillion reason the US might be nearing a recession – "The ratio of non-financial corporate debt to nominal GDP is at its highest level. In turn, consumers stop spending as they get worried about their jobs, and this decreases income for businesses,
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The Private Debt Crisis | naked capitalism – U.S. private debt growth has disproportionately affected the least well-off Americans. In fact, since 1989 (the year the Fed started a survey of this statistic), the debt level of the 20 percent of U.S. households with the lowest net worth has grown two and a half times faster than all other households.
Total US household debt soars to record above $13 trillion – · Total US household debt soars to record above $13 trillion. Credit card debt had the second largest increase of $26 billion to a total of $834 billion. The report said it was fifth consecutive year of annual household debt growth with increases in.
These States Have The Highest (And Lowest) Mortgage Debt – · The report also examined mortgage debt levels on a state-by-state basis, which also reflects the overall housing conditions in those states during.
Consumer debt is at an all-time high. Should banks be worried. – Between 1960 and 1984, the U.S. personal savings rate – which is savings as a percentage of disposable personal income – never fell below 8%. That level of national thrift is far out of reach today. In December 2017, the personal savings rate dropped to 2.4%, its lowest level since the debt-fueled boom of the mid-2000s.
When Will the Next Recession Come and How to Prepare – · The next recession may be coming in a year or two, so this is the time to start preparing your finances accordingly.. business and consumers debt at nosebleed levels.
Economy – NewsWars – China ditches $17.5 billion in US debt in two months . Jun 19, 2019.. Staggering Consumer Debt Nearing Recession Levels . Central bankers depend on easy money, credit to keep bubble economy inflated. credit card charge-offs remain at Recession-Era Levels Despite "Booming" Economy .