Aside from the early days of the Great Recession, credit card issuers are seeing their losses mount at the fastest rate since the mid-1990s, CNBC reported.
Tag: debt
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GLOBAL DEBT SETS RECORD AT $307 TRILLION
The amount of money owed by governments, businesses, households, and individuals grew by $10 trillion in this year’s first half to a record $307 trillion, the Institute of International Finance (IIF) said in a 19 September report.
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AMERICANS SINKING INTO DEBT
Americans have charged a record $1 trillion to credit cards and other forms of revolving debt, the Federal Reserve Bank of St. Louis announced last week.
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GLOBAL DEBT AND THE HUMAN BUBBLE
“The world’s central banks are responsible for creating a “market” for their product, “currency backed by nothing,” by fostering a population boom and consumers who are dependent on their product.” —GM
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THE ENTIRE WORLD FINANCIAL SYSTEM IS ON A KNIFE’S EDGE
Today, at its core, the world financial system is in crisis. More specifically, liquidity in the system is drying up. What this translates to is this, without world central banks both issuing, and then buying back exponentially more debt the entire system implodes.
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EXPECT A NEW DEBT EXPANSION CYCLE TO BEGIN
If central banks do not find another mechanism to continue to inflate, IMMEDIATELY, the entire global financial system will melt down.