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POSTED ON June 8, 2022  - POSTED IN Key Gold Headlines

Consumer debt climbed to a new all-time record in April as Americans continue to cope with rapidly rising prices.

Total outstanding consumer debt rose by $38 billion in April, reaching a new record of $4.57 trillion, according to the latest data from the Federal Reserve. Total consumer debt was up 10.1% in April. It was the third straight month that consumer debt increased by $30 billion or more.

POSTED ON January 10, 2022  - POSTED IN Original Analysis

The Federal Reserve is talking about raising interest rates. Well, that’s going to be a big problem for American consumers who are running up debt at a torrid pace. This is yet another reason why the Fed can’t do what it’s claiming it will do.

Consumer debt jumped 11% year-on-year in November, according to the latest data released by the Federal Reserve. It was the biggest single-month jump in consumer debt in 20 years.

POSTED ON December 10, 2021  - POSTED IN Friday Gold Wrap

Pretty much everybody now expects the Federal Reserve to go to war against inflation, but the central bank has a problem not many people seem to be talking about – an economy buried under debt. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about consumer debt levels and their ramifications. He also discusses central bank gold-buying and breaks the November CPI data live.

POSTED ON April 12, 2021  - POSTED IN Key Gold Headlines

Apparently, those stimulus checks weren’t enough. American consumers pulled out their credit cards and ran up big balances in February.

According to the latest numbers from the Federal Reserve, consumer debt unexpectedly spiked in February, growing at an annual rate of 7.9%. Economists had expected a small uptick in consumer debt after a flat January, but the sudden surge in credit card spending came as a surprise.

POSTED ON May 12, 2020  - POSTED IN Key Gold Headlines

Total household debt was over $1.6 trillion higher than the previous peak in 2008 even before the full force of the coronavirus pandemic government shutdowns hit the economy.

Household debt increased by $155 billion (1.1%) in Q1 to a total of $14.3 trillion, according to the latest data released by the New York Fed. The previous peak was $12.68 trillion in the third quarter of ’08 in the early days of the financial crisis.

POSTED ON April 15, 2020  - POSTED IN Key Gold Headlines

The solution to the coronavirus economic meltdown is to borrow our way out of it. The Federal Reserve slashed interest rates to zero and the stimulus bill makes all kinds of loan programs available to pretty much anybody and everybody. But American consumers were already up to their eyeballs in debt before the coronavirus lockdowns. In fact, consumer debt spiked again to yet another record in February, according to the latest data from the Federal Reserve.

POSTED ON February 14, 2020  - POSTED IN Friday Gold Wrap

Jerome Powell went to Capitol Hill this week. During his testimony before a congressional committee, the Fed chair insisted, “There is nothing about this economy that is out of kilter or imbalanced.” In this episode of the Friday Gold Wrap Podcast, host Mike Maharrey takes issue with Powell’s assessment and points out some things that are, in fact, way out of kilter.” He also touches on coronavirus and the markets, consumer debt, and Donald Trump.

POSTED ON February 11, 2020  - POSTED IN Key Gold Headlines

Americans are driving the US economy along with borrowed money. The question is how much longer can it last?

Consumer debt surged once again in December as Americans charged up their credit cards for the holidays. Total consumer credit grew by $22.1 billion in December, according to the latest data released by the Federal Reserve. That represents an annual growth rate of 6.3%. Total consumer debt now stands at a record $4.197 trillion.

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