Category Archives: Business & Economy

Who Bought The $1.3 Trillion In Debt The US Government Added In 2019?

Who Bought The $1.3 Trillion In Debt The US Government Added In 2019?

The US Gross National Debt spiked by $1.3 trillion over the past 12 months, to $23.3 trillion. These days, trillions fly by so fast it’s hard to see them. This debt exists in the form of Treasury securities, and each of these securities was bought by some entity in the US or in some other country. So, who owns all this debt? Let’s see…

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FICO Changes To Dramatically Affect Credit Scores In Effort To Reduce Defaults

FICO Changes To Dramatically Affect Credit Scores In Effort To Reduce Defaults

Fair Isaac, the company behind FICO credit scores, announced the rollout of a new scoring method that will dramatically shift credit scores for millions of Americans in either direction. The changes come as consumers are accumulating record levels of debt that has worried some economists but has shown no sign of slowing amid a strong economy.

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Why Bad GDP Metrics Lead to Bad Policy

Why Bad GDP Metrics Lead to Bad Policy

The laser-like focus on consumer spending as the driver of economic health is largely the result of the government’s premiere measure of the economy: the Gross Domestic Product (GDP). Significant flaws in how GDP is measured, however, not only make it a misleading indicator, but have led to erroneous conclusions about what makes the economy tick. Such errors lead to extremely costly and damaging public policies.

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63% Of All U.S. Jobs Created Since 1990 Have Been Low-Wage Jobs

63% Of All U.S. Jobs Created Since 1990 Have Been Low-Wage Jobs

Since 1990, the U.S. economy has produced millions of jobs, but nearly two-thirds of them have been low wage jobs. Of course this is one of the biggest factors causing the systematic erosion of the American middle class. Today, half of all U.S. workers make less than $33,000 a year, but meanwhile the cost of living has been steadily increasing.

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Nearly Half Of US Consumers Report Their Incomes Don’t Cover Their Expenses

Nearly Half Of US Consumers Report Their Incomes Don’t Cover Their Expenses

Low-income consumers are struggling to make ends meet and if a recession strikes or the employment cycle continues to decelerate — this could mean the average American with insurmountable debts will likely fall behind on their debt servicing payments. A recent report that showed that 44% of consumers don’t make enough money to cover their expenses.

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