consumer | Verity Weekly
Consumers Struggling to Sustain Bubble Economy With Money They Don’t Have
Economy Cracking: Retail Sales Tank
Drop in Credit Card Debt Rocks Wall Street Pundits
Consumers continued to pile on debt in August, according to the latest data released by the Federal Reserve.But credit card debt fell slightly, raising a troubling question: are consumers close to maxing out the plastic?Total consumer credit grew by another $17.9 billion in August. That represents an annualized increase of 5.2% and pushes total consumer indebtedness…
Americans Driving Economy Along With Money They Don’t Have
Americans continue to drive the economy along spending money they don’t have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve.Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness took analysts…
Earlier this week, Spencer Schiff wrote an article noting the importance of consumer spending to the US economy and the consequences that will follow if Americans suddenly tighten up their wallets.Schiff isn’t alone in his concern. A mainstream economist sounded a similar warning during a recent CNBC interview.In his article, Spencer pointed out the US economy’s dependence…
Consumers Propping Up Economy With Money They Don’t Have
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…