Retirement Lifestyle Advocates
Rapidly increasing levels of credit card debt had me concluding that Americans were increasingly dealing with rapidly rising consumer prices by resorting to accumulating debt on their credit cards.
The Fed, the central bank of the United States, after increasing interest rates .25% after its last meeting, issued a statement that was a bit different than other, recent statements after the Fed decided to increase interest rates.
Aggressive US sanctions against some countries globally are simply adding gas to the de-dollarization fire, as countries look to establish a permanent alternative to the US Dollar.
Homebuyers with good credit and larger down payments will now pay more in mortgage origination fees than poorly qualified, more marginal home buyers.
There is now a HUGE disparity between the yield on a 1-month US Treasury bill and a 2-month US Treasury bill.
Most Americans simply do not care that these new digital currencies could open a door for great tyranny. They just want to be able to pay the bills and take care of their families, and if our politicians tell them that this new system is good for the economy, they will be all for it.
The Fed will HAVE to either destroy the currency or destroy the economy.
I believe that the odds are fairly high that we may be on the verge of repeating the financial crisis; the downside for stocks from here could be greater than in 2007 – 2008.
As Americans are trying to deal with the inflationary environment, credit card debt has been rising – now topping $1 trillion for the first time in history.
As I have been stating here for a VERY long time, when there is too much debt to be paid, it won’t be paid. And, since banks have debt as assets, when debt goes unpaid, banks fail.