Panic sets in when delinquencies rise too high. Just like in 2007 with subprime, it doesn’t take an extremely high percentage either. Just enough to break the derivatives. Look at how many people simply look at the percentage (which is still reasonably high) and suggest it’s not a problem. They don’t understand what derivatives are. End of story. What do you think is going on with consumer debt today?
Debt can expand for years. In fact it has to or else the system will collapse. There’s no possible way that this can go on forever and that’s why every so often a slowdown occurs and then we have an economic calamity. It’s a cycle. But what’s notable is that right now, Americans and for that matter, just about everyone in the world is in the most amount of debt they have ever been in, in history. But I just got pre-approved for another credit card so I guess, don’t stop the party just yet?
IMF cuts 2019 growth outlook again, says risks are ‘skewed to the downside’
How Inflated Credit Scores Are Leaving Investors in the Dark
Why American auto delinquencies are piling up – Business Insider
South Florida Among Least Affordable Metro Areas In The World – CBS Miami
House Flipping Is Back to Pre-Crisis Levels. Here’s Why It’s Less of a Concern. – WSJ
The Average National Apartment Rent Kicks Off the Spring Rental Season at $1,430 – RENTCafé rental blog
SocGen to cut 1,600 jobs globally after slump hits trading – BNN Bloomberg
Sacramento wants to tax soda, tires, guns, water, pain pills, lawyers, car batteries… – Los Angeles Times
Walmart to roll out thousands more robots in stores | Fox Business
Walmart to add robots to US stores
Minimum wage hikes trigger ‘payroll tsunami,’ as small businesses cut back | Fox News
Massachusetts And New York Beginning To See The Ugly Side Of Minimum Wage Hikes