Americans are starting to pile up more credit card debt than ever before.
According to a new study released Monday, U.S. consumers added $33 billion in credit card debt during the second quarter of 2017, making it the second-highest point of debt since the end of 2008.
Personal Finance website WalletHub.com—who conducted the study—projects that by the end of 2017, Americans will pile more than $60 billion in new credit card debt, which means overall the U.S. is headed towards well over $1 trillion in credit card debt.
It really should be clear that a major international banking crisis is inevitable, and likely to occur fairly soon
Hubert Moolman makes the case for a major banking crisis thats inevitable and likely to happen fairly soon. With extreme debt levels, many global central banks are close to failure.
Even though I have presented a few charts on the VIX – Volatility Index in past articles, I thought this one would provide a better picture of the coming disaster in the U.S. stock markets:
The VIX – Volatility Index (RED) is shown to be at its lowest level ever when compared to the S&P 500 Index (GREY) which is at its all-time high. If we take a look at the VIX Index in 2007, it fell to another extreme low right at the same time Bear Stearns stock price reached a new record high of $171. Isn’t that a neat coincidence?
As a reminder, the VIX Index measures the amount of fear in the markets. When the VIX Index is at a low, the market believes everything is A-OKAY. However, when the VIX surges higher, then it means that fear and panic have over-taken investment sentiment, as blood runs in the streets.
As the Fed and Central Banks continue playing the game of Monopoly with Trillions of Dollars of money printing and asset purchases, the party won’t last for long as DEATH comes to all highly leveraged garbage assets and Ponzi Schemes.
To get an idea just how much worse the situation has become than we realize, let’s take a look at the energy fundamental that is gutting everything in its path.
WHY THE BIG MARKET COLLAPSE IS COMING: It’s The Energy, Stupid
X22Report: Warning: Economic Breakdown Headed Our Way
Confusion in China, latest report is that China was ready to ban trading of cryptocurrencies but none of the trading housing received info about this.
The Fed believes that the everyday person is doing well, but it turns out they are not and the wealth is being siphoned up to the wealthy.
The next bank in Spain is in trouble, it seems like the domino’s are falling.
Citi warns that revenue will be way down.
Deutsche bank is reporting that a recession is headed our way.
SRSRocco reports that we are at the point of the economy where its primed and ready to crash.
More signs of the imminent cryptocurrency “crash and burn” scenario: Paris Hilton and other celebrities now endorsing ICOs
Cryptocurrencies are a dime a dozen these days, as every Joe “tech” Schmoe seems to be either buying them or creating them. And you know the situation has gotten out of control when even Paris Hilton of “that’s hot” fame is hawking them on Instagram – her digital fiat of choice being a crypto-coin known as “Lydian” that reportedly doesn’t even exist yet.
Signifying further that cryptocurrency technology is likely gaining in popularity (even if it will ultimately fail, as many predict), Hilton’s surprising push for LydianCoin isn’t a marketing thing, she claims. No, she’s simply excited about “participating,” which according to reports means buying some unknown amount of LydianCoin for $5 a pop.
Developed by a company known as “Gravity4,” LydianCoin is the brainchild of the company’s CEO, Gubaksh Chahal, who is trying to raise $100 million in fast cash by selling 20 million LydianCoins. The only problem is that LydianCoins don’t actually exist yet – this, and Chahal doesn’t exactly have the greatest reputation, seen as how he pleaded guilty to assault in 2014 after being accused of beating his girlfriend. He was also accused of violating his probation after allegedly assaulting another woman not long after this.