If This Changes, Banks Collapse
In recent times, the U.S. economy has witnessed a concerning upswing in credit card delinquencies. According to a critical report from Wells Fargo, a significant number of Americans are lagging on their monthly credit card bills, potentially indicating looming economic challenges. The surge in delinquencies is particularly noticeable among small lenders, as late payments at banks outside the top 100 by asset size hit unprecedented levels. This trend increases strain on small to medium banks, especially in light of the three major bank failures earlier this year. Parallelly, the New York Federal Reserve’s latest findings reveal that total credit card debt soared to a staggering $1.03 trillion between April to June, marking a historical high since Fed data tracking began in 2003. The confluence of higher credit card usage and rising delinquency rates is especially alarming in the context of the present-day high-interest rates. With the average credit card APR touching a record 20.63%, consumers could find themselves paying significantly more in the long term. The prevailing strong labor market further underscores the concern of rising delinquencies, and experts forecast a possible uptick as student loan payments restart after the recent Supreme Court decision. In light of these trends, the Federal Reserve's decision to persistently hike interest rates to manage inflation and regulate the economy is critical. #CreditCard #USCreditCardDebt #FederalReserve #EconomicOutlook #InterestRates #ConsumerDebt
Follow the Money 0:00
Break It Down 7:25
Debt 11:10
What Can I Do? 13:53
—————————————————————————————————
🔥 All My Tips and Strategies on the Discord Community: 🔥
https://discord.gg/QNgHFgxkq9
—————————————————————————————————
💵 HOW TO MAKE MONEY ON AMAZON: 💵
👉 http://TheAmazonGPS.com 👈
—————————————————————————————————
LOOK THROUGH MY BOOKS! http://books.themoneygps.com
MY FAVORITE BOOKS: https://youtu.be/Y_mwbfp1ULU
SUPPORT MY WORK: https://www.patreon.com/themoneygps
PAYPAL: https://goo.gl/L6VQg9
—————————————————————————————————
Sources Used in This Video:
http://bit.ly/TheMoneyGPSSources2023
-
16:23
The Money GPS
7 months ago $0.15 earnedLet Me Tell You Exactly Why Prices Are About To Shock You
5262 -
47:53
Tactical Advisor
3 hours agoNew Metal Frame M&P 2.0 Release - Vault Room Live Stream
32.6K7 -
23:23
Bright Insight
4 hours agoThis Disturbing Gunung Padang Pyramid UPDATE Will Shock You
42.9K62 -
1:18:33
Caleb Hammer
16 hours agoHer Dad Threatened My Life
32.4K2 -
1:59:37
LFA TV
4 hours agoBIG BOY PROBLEMS! | LIVE FROM AMERICA 7.12.24 11am EST
60.3K52 -
1:17:24
Graham Allen
6 hours ago🚨IT’S OVER: Dems are Plotting to KICK JOE OUT after Failed NATO Press conference!!
65.2K125 -
2:39:21
Matt Kohrs
16 hours agoIt's Payday Friday!!! || The MK Show
60.3K5 -
2:01:28
AP4Liberty
6 hours agoBiden's Vice President? Trump!
55K9 -
1:34:28
The Podcast of the Lotus Eaters
7 hours agoThe Podcast of the Lotus Eaters #955
63.2K16 -
1:23:58
Game On!
15 hours agoMarvin Harrison Jr will be the biggest NFL Bust | NFC West 2024 Preview
49.2K1