Record Number Of Americans Underwater On Car Loans
While the price of new cars continues to soar, and the average monthly car payment heading toward $800, while the number of car payments exceeding $1,000 is higher than it…
Credit Card Debt In The US Hits Record High
In the fourth quarter of 2022, US credit card debt approached a trillion dollars according to the New York Federal Reserve Bank in its quarterly household debt report which it…
Americans Continue To Take On More Debt As Economy Sputters
Amid a surge of credit card borrowing, Americans continued to raise the amount of debt they have taken on in the fourth quarter, even as mortgage borrowing declined amid rising…
More Subprime Borrowers Are Missing Loan Payments
In a trend reminiscent to the runup to the 2008 financial crisis, the rate of missed loan payments from subprime borrowers is rising: Consumers with low credit scores are falling…
At BoA, Savings Are Double What They Were Pre-Pandemic
Andy Sieg, president of Merrill Wealth Management, says he still sees consumer savings as substantial. “When we look at checking and savings accounts across Bank of America, we see our…
Morgan Stanley Projects A 27 Percent Chance Of A Recession In The Next 12 Months.
The GIC Weekly just came out. In it: Morgan Stanley estimates a 27% chance of recession in the next 12 months, up from just 5% in March. Investor anxiety now…
Goldman Economist Warns US Consumers Maxing Out Credit Cards Will Lead To Late 2022 Spending Collapse
One of the steps in the progression of increased costs through the economy will be the effects as debt-utilization peaks: Here are the shocking numbers: in March, one month after…
