Category Archives: Business & Economy
Debt Among Millennials Rockets Past $1 Trillion
Debt held by Americans aged 19 to 29-years-old exceeded $1 trillion at the end of last year, according to Bloomberg, citing the New York Federal Reserve Consumer Credit Panel.
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Living Paycheck-To-Paycheck: The New Crisis And Normal For The American Middle Class
According to recent studies, the vast majority of the American middle class is only one missed paycheck away from poverty. About 78% of workers in the United States are living paycheck to paycheck, and the statistics don’t improve from there.
Read moreOPEC Proposes Formal Oil-Production Alliance With Russia
Saudi Arabia and its Gulf allies in OPEC have proposed a formal alliance with a 10-nation group of petroleum producers led by Russia – an alliance that would “transform the cartel”.
Read moreAmerica’s Apocalyptic Debt Crisis? 63 Of America’s Largest 75 Cities Are Completely Broke
The debt crisis in the United States of America has reached apocalyptic proportions. A new and horrifying report out details the reason.
Read moreRising Credit-Card Use Shows Consumers Are Strapped
Americans are increasingly reaching for the plastic in their wallets to cover what their paychecks won’t.
Read moreAmerica’s Middle Class is Vanishing. Nearly Half Of US Workers Earn Less Than $30,000
Republicans think President Trump deserves much of the credit for cutting business and individual tax rates combined with a deregulation agenda. And Democrats believe former President Obama deserves ownership for America’s recovery. Regardless of who gets credit, HowMuch.net’s newest visualization of net compensation levels for American workers demonstrates that the economy is indeed delivering, but not for as many people as the headlines would have you believe…
Read moreAmericans Just Blew $850 Billion On Christmas But Here’s Why That’s Not A Good Sign
The latest raft of spending data revealed, spending outpaced incomes once again in November, sending the savings rate lower, suggesting that this latest consumption binge was largely fueled by debt.
Read moreUS Reports Biggest Ever Budget Deficit For November
Two months after the US Treasury reported the widest annual deficit in six years for fiscal 2018, moments ago the US posted the biggest November budget deficit on record as total government spending came in twice as much as revenue.
Read moreMorgan Stanley: Ford To Announce 25,000 Job Cuts
After Ford successfully spun its latest “restructuring” as a jobs-neutral, union-endorsed shifting of employees from one factory to another, one analyst at Morgan Stanley is calling “bulls***”, writing in a report published Monday that the Detroit automaker could soon announce an even larger round of job cuts than rival GM.
Read moreGas Prices Slide To Lowest Since March As Shale Production Soars
After months of rising prices at the pump, the American consumer is finally starting to feel some relief thanks to the drop in oil prices.
Read moreBlack Friday Has Brick-and-Mortar Stores Seeing Red
Legacy brick-and-mortar retailers have found themselves falling behind this Thanksgiving season as the Black Friday “holiday” moves closer to becoming an online exclusive event. Digital spending is estimated to possibly exceed $6.4 billion on Friday, which would be higher than last year’s Cyber Monday totals.
Read moreMiddle Class Destruction: Suicide Rates Soar Among American Workers
Suicide rates are rapidly expanding in almost every state, as it now becomes the 10th leading cause of death in the US and is one of three leading reasons that are on the rise. The CDC discovered that in recent years suicide rates were the highest among males in construction jobs and the highest for females working in arts, design, entertainment, sports, and media. Is the evisceration of the middle class over the last thirty years finally taking its toll?
Read moreNew Report Warns Retailers Could See Weak Holiday Sales
Consumers might not be able to save the economy which is expected to enter a slowdown in early 2019. Consumer credit cards and debt have recently hit all-time highs, during a period of rising interest rates which could create a squeeze, thus reducing their ability to buy things this upcoming holiday season.
Read moreDeficits Do Matter: Debt Payments Will Consume Trillions of Dollars in Coming Years
In coming years, interest payments on debt will increasingly pull money away from programs like Medicare and military spending.
Read moreThe Pension Bomb [VIDEO]
![The Pension Bomb [VIDEO]](https://i.ytimg.com/vi/rTX405bUrSo/maxresdefault.jpg)
State and local governments face a $5 trillion dollar unfunded pension liability. In other words, politicians promised workers $5 trillion in retirement benefits, but government doesn’t have the money.
Read more7 Million Americans Are About To Get An Artificial Boost To Their FICO Scores
A new FICO scoring system is about to roll out in 2019. The new score is going to be called the UltraFICO and is being designed to specifically boost the number of approvals for credit cards and loans just as consumer debt is about to reach an all-time high of $4 trillion by the end of 2018.
Read moreSubprime Loans Are Back, Proving We Have Learned Nothing from 2008
Subprime loans are back. Many are claiming that this time will be different than the last. This should concern just about everyone.
Read moreWho Will Benefit The Most From Sears’ Collapse?
According to Morgan Stanley, while Sears Holdings Corp’s market share is dwindling, the bank estimates $2.8b in Apparel, $2.7b in Appliance, ~$2b in Consumer Electronics and ~$0.6b in Home Improvement sales up for grabs. Here’s who will benefit the most from picking it up.
Read moreUS Spending On Interest Hits All Time High As Budget Deficit In Trump’s First Year Soars To $779 Billion
To fund the deficit, the U.S. government borrowed $1.08 trillion from the public in Fiscal 2018, more than double the amount borrowed in 2017 ($498.3 billion) and the most borrowed from the public in a fiscal year since FY’12.
Read moreAuto Tariffs Could Increase Cost of New Cars by $4,400
According to research by the Michigan-based Center for Automotive Research (CAR), 25 percent auto tariffs will cost Americans dearly.
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