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 president of TransUnion […]
America has lost 1,544,700 trucking jobs on a seasonally adjusted basis. There are 30,000 less truckers on the road now compared to July 2023. Demand has not waned and this will undoubtedly contribute to supply chain slowdowns. The trucking transportation sector has been declining steadily for the past four months, based on data released by […]
The world has erupted in conflict as a direct result of the economy turning down. We are seeing it across the globe, from Bangladesh, Ghana, Uganda, Kenya, and Nigeria to name a few. There is peace when everyone is fat and happy but that is no longer the case in the majority of the world […]
Americans are preparing for a prolonged inflationary period, based on new data from the New York Fed. The New York Federal Reserve’s Survey of Consumer Expectations found that Americans are still pessimistic about inflation waning, with no one now believing it is transitory. The median expectation is that inflation will remain at the 3% level […]
The private debt crisis is becoming apparent in America after car repossessions jumped 23% during the first half of 2024. Data shows that 1.6 million Americans will have their car repossessed by the bank before the end of the year, a slight increase from the 1.5 million autos repossessed in 2023 and a drastic upturn […]
The government insists that the economy is fine, thriving perhaps, and has asked the public to pay no mind to their current financial situation. No one, aside from those living off government assistance, are better off now than they were four years ago. Americans cannot be gas lit into believing the economy is sound when […]
I’ve long been sounding the alarm on the private debt crisis sweeping the Build Back Better nations. US government debt equaled 122.3% of the nation’s GDP in 2023, a cost that will be passed on to the taxpayers. As of Q1 2024, US household debt stood at $1.77 trillion; $12.44 trillion held in mortgage debt, […]
@60minutes Fed chair says he worries about the national debt #nationaldebt #60minutes #federalreserve #debt ♬ original sound – 60 Minutes Donald Trump believes that Federal Chairman Jerome Powell will make decisions for the central bank based on politics. I must say that I do disagree with Trump’s stance on the role of the central bank […]
World leaders spend recklessly with no regard for the overall economy. Canadian Prime Minister Justin Trudeau has fallen out of favor for one primary reason – the cost of living is too high. Canada is deeply indebted, and now ranks the third-highest nation in household debt in the world. Switzerland and Australia are the only […]
Treasury Secretary Janet Yellen once again is once again gas lighting the public to believe that the Biden Administration has inflation under control. When questioned about the rising prices at grocery stores, Yellen denied that prices have soared astronomically. “I think largely it reflects cost increases, including labor cost increases that grocery firms have experienced, […]
