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.

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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.

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“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.

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“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.

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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.

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