The Financial Crisis Is Brewing: Europe Is Slowing Down Dramatically, Australia on the Brink, US Credit Card Debt At New All-Time High….

El-Erian: The Economic Slowdown in Europe Is Actually Even Worse Than You Think

“The European Central Bank has only limited tools at its disposal to respond to economic weakness while European governments are not prepared to respond with spending.”

Australia on the Brink: “Every Indicator Is Blinking Red”

“The economy will no doubt continue to worsen in 2019 and 2020. Many Australians will see their so-called wealth evaporate and many will suffer significant financial losses.”

US Credit Card Debt Closes Out 2018 at $870B, New All-Time High

To borrow a phrase from Wimpy (of Popeye cartoon fame), the US consumer will gladly pay you Tuesday for a hamburger today, as the insatiable American appetite for unearned consumption continues.

Credit card debt closed 2018 at a new record high

 

 

 

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