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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. […]
We have a trade deal! Maybe. Meanwhile, the Fed wrapped up its last FOMC meeting of the year this week and did nothing. But Powell and Company did give us some indication about what we should expect next year. The week’s news played tug-o-war with gold. In this episode of the Friday Gold Wrap, host […]
American consumers are still propping up the economy spending money they don’t have. But how long can it last? After a slight slowdown in September, consumer borrowing jumped again and set another new record in October, according to the latest data released by the Federal Reserve.
America’s economy is built on consumption. Average Americans have been pushing the US economy along, spending money they don’t have. But as we’ve reported, there are signals that the credit cards might be close to maxed out. Now there appears to be another warning sign – the wealthy are reining in their spending.
How much more can the auto loan bubble blow up before it pops? Total auto loans and leases outstanding for new and used vehicles increased by another 4.3% year-on-year in the third quarter, according to the latest data from the Federal Reserve. This was a factor in pushing total American consumer debt to a new […]
There was more optimism about a trade deal this week. There was also more pessimism about a trade deal this week. Markets reacted accordingly. But there was some other interesting news out there. Jerome Powell lectured Congress about the national debt and last month’s inflation data came in hotter than expected. Host Mike Maharrey covers […]
American consumer debt pushed to a new record of $4.15 trillion in September. Part of that equation – the continued surge in the levels of student loan debt. Student loan balances jumped by $32.9 billion in the third quarter this year, pushing total outstanding student loan debt to a new record of $1.64 trillion. Student […]
News of a possible “phase 1 trade deal” and movement toward a resolution of the Brexit fiasco have buoyed stocks and put a lid on silver and gold this week. But positive vibes on these two fronts overshadowed a lot of economic data that came out this week that was less than ideal. It seems […]
Gold and silver are down this week. There was some more hopeful trade war news and stronger than expected economic data that drove markets this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey covers it, plus some news that’s being mostly ignored. And he ponders a question: should we be […]
Americans continue to drive the economy along spending money they don’t have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve. Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness […]
