Contact Us on the WhatsApp icon to send us a message or email

McIntyre Report Political Talk Show

The Vladimir Putin Interview

Recent News

The next 3 minutes will transform your life forever.

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Australian National Review - News with a Difference!

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset. and help us expose the Covid Fraudsters

20 Million Americans Stuck In An Endless Credit Crisis That Is Sucking The Life Out Of Them

Facebook
Twitter
LinkedIn
WhatsApp
Email

17 trillion dollars. This is the size of the debt load of U.S. households in 2024. As a society, we’re in the midst of the greatest debt bubble in history, and it’s getting bigger and bigger with each passing month.

We have witnessed previous generations achieving their financial goals much earlier in life. Back then, the economy was quite different, and their standard of living was far higher than ours.

Now, just in order to make ends meet Americans have been borrowing and spending like never before. But it seems that a day of reckoning is fast approaching.

Fresh numbers released by the New York Fed revealed that in the last quarter alone, household debt increased by a whopping 184 billion dollars, led by the jump in mortgage balances as interest rates continue to soar.

If we were able to manage this enormous debt, there wouldn’t be much cause for alarm. But new data shows that we can not, and now a massive wave of delinquencies is expected to emerge.

In fact, the proportion of credit card balances in serious delinquency has climbed to the highest point since the aftermath of the Great Recession.

With Americans battling with high inflation and interest rates, a growing number of cardholders are falling behind on their monthly credit card payments right now.

At this point, the number of people who can’t afford to pay their credit card balances in full every month has already surpassed pre-pandemic levels, and the flow of credit card debt moving into delinquency hit 8.9% in the last quarter at an annualized rate, compared with an 8.5% rate the previous quarter and 5.87% at the end of 2023.

Source link

Original Source

Related News

Let’s not lose touch…Your Government and Big Tech are actively trying to censor the information reported by The ANR to serve their own needs. Subscribe now to make sure you receive the latest uncensored news in your inbox…