Credit card defaults in the US skyrocketed by 50% in the past year. Credit card defaults reached $46 billion in the first nine months of 2024, a level not seen since 2010. The cost of living has simply surpassed manageable levels for the majority of households. Americans are feeling the impact of inflation and compounding […]
Over 6,481 retailers have closed their doors since the beginning of the new year, according to data from Coresight Research in November, but that figure is expected to reach 7,327, marking a 57.8% increase in closures since 2023. During the pandemic, closures exceeded openings by 180 stores in 2020, with the gap widening in 2021 […]
According to data provided by the Commerce Department, the US economy grew 2.8% during Q3, beneath expectations of a 3.1% increase. GDP has slowed from the 3% posting during Q2. Personal consumption expenditures (PCE) rose 3.7% last quarter, marking the strongest performance since Q1 of 2023. The US federal government’s spending is factored into […]
The Internal Revenue Service (IRS) released new tax bracket information for 2025. Most tax thresholds increased by 2.8% compared to 2024. The report, released ahead of the election, claims these changes will prevent “bracket creep” where inflation propels taxpayers into higher brackets. However, the tax breaks imposed under former President Donald Trump come to an […]
The Department of Homeland Security released a report to gauge the number of asylum seekers who entered the US in 2023. On the low side, the department believes 945,370 people from throughout the world managed to infiltrate America in a one-year period, breaking past all previous records. “Affirmative asylum case filings with USCIS nearly doubled […]
The Department of Housing and Urban Development is toying with the idea of providing American renters cash aid instead of vouchers. Current vouchers only demand that tenants pay 30% of their income on rent, while the US taxpayers foot the rest of the bill. The department says it is still too difficult for would-be tenants […]
https://www.armstrongeconomics.com/wp-content/uploads/2024/08/Kamala.WordSalad.mp4 The Democratic National Convention occurring in Chicago is touting the importance of defeating Trump, climate change, gun control, and abortion. These are the ONLY talking points that the Democrats harp on while ignoring the REAL issues plaguing the nation. It was revealed earlier this week that the Biden-Harris Administration completely failed to create new […]
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 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 […]
California’s job market is contracting thanks to policies implemented by Governor Gavin Newsom. California was once a hub for technology but sky-high corporate and personal taxes have caused businesses to flee. Rampant crime has forced brick and mortar locations to shutter. Rising minimum wage costs have forced companies to automate low-skill positions. And the brunt […]
