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POSTED ON August 12, 2019  - POSTED IN Key Gold Headlines

Consumer debt is driving American economic growth.

Total outstanding consumer debt surged over $4.1 trillion in the second quarter of 2019, according to the latest data released by the Federal Reserve.

American indebtedness grew by 4.9 over the year, and the quarterly gain from Q1 to Q2 came in at $60 billion — the biggest second-quarter increase since Q2 2016.  Over the last 12 months, American consumers have piled on an additional $208 billion of debt.

POSTED ON May 17, 2019  - POSTED IN Friday Gold Wrap

The markets have been up and down this week, riding the trade war roller coaster. And analysts can’t seem to decide if the data of the day is telling us that the economy is sound or slowing. But we do know one thing for sure – there is a lot of debt out there, and there are signs that it might be catching up with us. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks student loan and auto loan debt, and what it be telling us about the economy. He also covers some of the latest trade war news and the last batch of economic data.

POSTED ON February 13, 2019  - POSTED IN Key Gold Headlines

The national debt has pushed above the $22 trillion mark, but it’s not just Uncle Sam borrowing himself into oblivion. US household debt climbed to a record $13.54 trillion in the fourth quarter of 2018, according to a report released by the Federal Reserve Bank of New York.

Total household debt (including mortgages) now stands $869 billion higher than the previous peak of $12.68 trillion in the third quarter of 2008 (right before the crash) and 21.4% above the post-financial-crisis trough reached in the second quarter of 2013.

POSTED ON December 11, 2018  - POSTED IN Key Gold Headlines

Americans continue to bury themselves in debt.

US consumer credit rose by the largest amount in 11 months in October, as Americans piled on another $25.4 billion in debt, according to the latest consumer credit report by the Federal Reserve. Total consumer indebtedness is rapidly approaching $4 trillion, with Americans currently $3.96 trillion in the red.

POSTED ON August 9, 2018  - POSTED IN Key Gold Headlines

Consumer debt hit another record in the first half of 2018, but the rate of borrowing seems to be slowing down. Could this be a sign that the debt-based house of cards economy is close to the point of collapse?

Total consumer debt rose by $176 billion in Q2, a 4.8% year-on-year increase. That pushed total debt to a record $3.87 trillion, according to numbers released by the Federal Reserve.

POSTED ON July 12, 2018  - POSTED IN Key Gold Headlines

Total household debt climbed to a record $13 trillion in 2017. One factor driving overall American indebtedness higher is the ever-increasing burden of student loans.

A recent article in the New York Times focused on three charts that illustrate the ever-increasing toll of the student loan bubble – and it’s not just impacting students. Parents are increasingly feeling the squeeze.

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