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It appears we’ve pretty much reached complete panic mode. The longest bull market in history came to an abrupt end on Wednesday. Wall Street followed up with another massive sell-off on Thursday. The S&P 500 had its worst day since Black Monday in 1987. Even gold was down. Meanwhile, the Fed tried to stem the […]
The 11-year bull run is over. After a rebound on Tuesday based on hopes of government fiscal stimulus, US stock markets plunged again Wednesday and officially moved into bear territory.
Last week, we told you about the rising level of subprime auto loan delinquencies. Well, there is a similar thing happening in the subprime credit card market. Is this the proverbial canary in a coal mine?
While impeachment proceedings kicked off at home President Trump was in Davos, Switzerland, talking up the US economy. He called it the best economy in American history. Is it though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economy, what’s really driving it, and why this might be […]
Are consumers getting close to the end of their road of debt? There are some indications that they might be and that’s not good news for an economy built on consumers spending money they don’t have.
Stocks closed out November on a high note with the hope of a trade deal fueling Wall Street. But is this warranted? And are consumers really doing a well as the mainstream would have us believe? Peter Schiff appeared on RT Boom Bust last week to talk about it. He said it’s all a house […]
Have you heard? The Democrats are going to fix the student loan mess! They’ve brought up the issue in almost every Democratic Party presidential debate. All we need is a good government program and we can easily solve this $1.64 trillion problem. Never mind that government programs caused the problem in the first place. Just […]
Consumer debt set another record in September, but the pace of borrowing appears to be slowing. This could signal trouble for an economy built on American consumers spending money they don’t have. Total consumer debt grew by $9.5 billion in September, according to the most recent data released by the Federal Reserve. That represents an […]
Consumers continued to pile on debt in August, according to the latest data released by the Federal Reserve. But credit card debt fell slightly, raising a troubling question: are consumers close to maxing out the plastic? Total consumer credit grew by another $17.9 billion in August. That represents an annualized increase of 5.2% and pushes […]
The federal government continues to pile up debt at a staggering rate. In August alone, the US government added $450 billion to the national debt. But Uncle Sam isn’t the only one who doesn’t have enough money to pay his bills. Forty state governments are also drowning in red ink. Total state government debt now […]
