Onerous Loan Terms Are Crippling Already Broke Subprime Auto Buyers

Onerous Loan Terms Are Crippling Already Broke Subprime Auto Buyers By Tyler Durden As the bubble in subprime auto continues to grow bigger – even at the same time the auto industry is mired in recession – terms on new loans for new buyers continue to get more burdensome for already broke consumers.  In fact, many people are piling on debt to their auto loans that far exceeds the car’s value, according to the Wall Street Journal. Like homeowners during the financial crisis, this leaves many people with negative equity…

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Millennials With Student Debt Are Getting Crushed The Most In These Ten Cities

Millennials With Student Debt Are Getting Crushed The Most In These Ten Cities By Tyler Durden SmartAsset, a personal finance technology company, has published a new study that identifies certain US metropolitan areas with the highest student loan balances. These cities are where millennials are struggling to make ends meet and can’t cover expenses. These hopeless folks have insurmountable debts, gig-economy jobs, record-high credit card rates, and no savings. Ahead of the next recession, this study provides important clues to the geographic regions where millennials will suffer the most financial…

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Odd Economic Numbers: Consumer Confidence Falls, But Consumer Spending Remains High

Odd Economic Numbers: Consumer Confidence Falls, But Consumer Spending Remains High By Mac Slavo While consumer confidence has fallen yet again, consumer spending remains high.  In fact, for the third straight month, consumers have been losing confidence in the markets, yet they haven’t curtailed their spending. Optimism about job prospects and business conditions down the road grow weaker The Conference Board said Tuesday. Its consumer confidence index edged down to 125.9 in October, compared with 126.3 in September. Perceptions about the present situation improved, but future expectations are still volatile,…

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Here Is The Secret Cost Behind All Those “Free” Credit Card Perks

Here Is The Secret Cost Behind All Those “Free” Credit Card Perks By Tyler Durden Despite the fact that the Fed insists on keeping interest rates low, many credit cards are actually raising rates for consumers, according to the Wall Street Journal. The increase is to make up for the generous rewards – perks like cash back and travel – that credit cards are offering to lure in customers. The average APR on a interest charging credit card is now about 17%, near its highest in more than 2 decades.…

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Economic Hitmen and Neoliberalism — The Truth About What’s Happening in Ecuador

Economic Hitmen and Neoliberalism — The Truth About What’s Happening in Ecuador By Dylan Charles The South American nation of Ecuador has been in the throes of a bloody populist revolution for nearly two weeks now. On October 3rd, 2019, President Lenín Moreno announced the enactment of Decree 883 which effectively ended decades of government fuel subsidies, causing the price of gasoline and diesel to jump sharply overnight. In a televised speech on Oct. 3, Moreno announced executive order 883 which “liberates the price of diesel and extra gasoline,” justifying…

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Student, Car Loans Surge Most In Three Years

Student, Car Loans Surge Most In Three Years By Tyler Durden While the total increase in US consumer credit in August was hardly a major outlier, rising by $17.9BN, below last month’s $23.05BN if above expectations for a $15.25BN print, and pushing the total number to a new record high of $4.14 trillion, the components of the overall number were surprising. The first surprise was the revolving, or credit card, debt, which after surging by almost $10BN in July, the biggest one month increase since 2017, shrank by $1.9BN in…

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5 Tips on How to Pay Off That Student Loan Before You’re 30

5 Tips on How to Pay Off That Student Loan Before You’re 30 By Chloe Anagnos College isn’t the best option for everyone. Some will do just as well if not better by learning their craft through apprenticeships or by simply enrolling in a trade school. But when college is part of your calling and you simply cannot juggle a part-time job and school, taking on student loans might be your only option. If this is your case, don’t despair. It is true that the government’s long history of getting…

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18 Facts on the US National Debt That Are Almost Too Hard to Believe

18 Facts on the US National Debt That Are Almost Too Hard to Believe By Mitchell Nemeth At around $22.5 trillion, the United States national debt sits at 106 percent of Gross Domestic Product (GDP). There is no disputing that this gigantic debt will someday become due and payable. However, there is hesitation among the political class as to what must be done to pay down and eliminate this debt. Continual Spending Increases Progressive lawmakers have largely refrained from discussing this liability, preferring to claim that the United States can…

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ANTS SWARMING: Global Debt Spreads – GOLD’S NEXT MOVE!

ANTS SWARMING: Global Debt Spreads – GOLD’S NEXT MOVE! We Bring You This Critical Alert, Contributed By WealthResearchGroup.com and Their Founder, Lior Gantz, Who Our Staff Looks At For Accurate Economic Forecasting. Trump Gives Green Light To Currency Devaluation First of all, the first half of 2019 reminded me of Charlie Munger’s quote from a couple of years ago, saying that while he does not have any say as to what central banks are doing, the benefits of their policies on the world’s stock markets has been very clear. Replying…

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U.S. Consumer Debt Surpasses Financial Crisis Levels

U.S. Consumer Debt Surpasses Financial Crisis Levels By Mac Slavo Debt levels reached record levels during the Great Recession which struck the United States about a decade ago. Now, U.S. consumer debt has surpassed those levels with a record number of Americans living on the edge of disaster. According to Market Watch, Ben Mohr, a senior research analyst of fixed income at investment consultant Marquette Associates, calculated that total U.S. consumer debt hit $14 trillion in the first quarter of 2019, surpassing the roughly $13 trillion of leverage accumulated in…

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