Category Archives: Business & Economy

Average New Car Payment Hits Record High $525 Per Month

Average New Car Payment Hits Record High $525 Per Month

Automotive loan amounts and monthly payments continue to reach record highs, but US consumers seem unfazed. According to Experian’s latest State of the Automotive Finance Market report, Americans are paying an all time high monthly payment for both a new and a used car and assuming a larger amount of debt to make it happen as affordability continues to decline.

Read more

Bankrupt America: A Fragile Nation Grappling With Unprecedented Debt Problems

Consumer bankruptcies are surging, corporate debt has doubled since the last financial crisis, state and local government debt loads have never been higher, and the federal government has been adding more than a trillion dollars a year to the federal debt ever since Barack Obama entered the White House. On top of everything else, everyone else around the world has been on a massive debt binge as well. Unfortunately, all debt bubbles must burst eventually, and the one that we are in right now is definitely on borrowed time.

Read more

“A Stealth Mortgage On Your House” – The Reality Of The Looming Pension Crisis

State taxes are collected on four economic activities: consumption (sales tax), labor and investment (income tax) and real-estate ownership (property tax). The affluent can escape sales and income taxes by moving to a new state—but real estate stays behind. Property values must ultimately support the obligations that politicians have promised, even if those obligations aren’t properly funded, because real estate is the only source of state and local revenue that can’t pick up and move elsewhere. Whether or not unfunded obligations are paid with property taxes, it’s the property that backs the obligations in the end.

Read more

“Their Wealth Has Vanished”: Baby Boomers File For Bankruptcy In Droves

An alarming number of older Americans are being forced into bankruptcy, as the rate of people 65 and older who have filed has never been higher – at three times what it was in 1991, while the rate of bankruptcies among Americans age 65 and older has more than doubled, according to a new study by the The Bankruptcy Project.

Read more

Over-Promising Has Crippled Public Pensions, A 50-State Study

The real problem plaguing public pension funds nationwide has gone largely ignored… Most reporting usually focuses on the under-funding of state plans and blames the crises on a lack of taxpayer dollars. But it’s the uncontrolled growth in pension promises that’s actually wreaking havoc on state budgets and taxpayers alike. Over-promising is the true cause of many state crises. Under-funding is often just a symptom of this underlying problem.

Read more

Government’s Already-Dismal Budget Forecast Just Got 106% Worse

This week, the Office of Management and Budget released a new report called the “Mid-Session Review” of the US federal budget. Last March, they projected a total budget deficit of $526 billion for Fiscal Year 2019. But according to the revised projections they published yesterday, the budget deficit for Fiscal Year 2019 will now be $1.085 TRILLION… 106% worse than projected.

Read more

Futures Tumble After Trump Says “Ready To Go” With $500BN In Tariffs On All Chinese Imports

“I’m ready to go to 500,” Trump said, roughly the value of Chinese goods imported to the US last year.”I’m not doing this for politics. I’m doing this to do the right thing for our country,” Trump said in a CNBC interview aired Friday. “We are being taken advantage of and I don’t like it.”

Read more

Amazon: Prime Day Was “Biggest Shopping Event Ever, Surpassing Cyber Monday And Black Friday”

Amazon said Prime Day sales grew more than 60%, breaking last year’s record and surpassing Amazon’s Black Friday and Cyber Monday, as well as the previous Prime Day. The company had also added “tens of millions of Prime members” to its platform, who purchased more than 100 million products for the first time ever.

Read more

“Dark Path Ahead”: Why American Farmers Dread The Trade War

While automakers – and their dealerships – are getting most of the headlines this week, the effects of the escalating trade war between Presidents Trump, Xi, and Putin are rippling across numerous US industries – directly, and indirectly. Makers of whiskey, cheese, auto parts and more are contending with the global tariff battle – but it is US farmers that appear to be suffering the most.

Read more

Four Trade War Scenarios: From ‘One-&-Done’ To ‘All Hell Breaks Loose’

On July 6th, President Donald Trump’s tariffs on $34 billion worth of Chinese goods are set to take effect. And, as Bloomberg’s Chief Asia Economist, Tom Orlik, notes, with an additional $16 billion coming close behind, and China threatening retaliation, it looks like the opening shots of a trade war are about to be fired.

Read more
1 2 3 14