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Last month, we reported on troubling signs in the corporate bond market. According to Moody’s, the majority of US companies have a “speculative” credit rating. They are considered high risk. As a result, their debt is “high yield” or “junk. When you combine leveraged loans and junk bonds, the total level of “junk” debt in the […]
Total household debt climbed to a record $13 trillion in 2017. One factor driving overall American indebtedness higher is the ever-increasing burden of student loans. A recent article in the New York Times focused on three charts that illustrate the ever-increasing toll of the student loan bubble – and it’s not just impacting students. Parents are […]
At the current trajectory, the cost of paying the annual interest on the US debt will equal the annual cost of Social Security within 30 years, according to a recent report released by the Congressional Budget Office. By 2048, as interest rates rise from their currently low levels and as debt accumulates, the federal government’s […]
We’ve written a lot about government debt and warning signs in the Treasuries market. The US government needs to sell over a trillion dollars in bonds a year over the next few years to finance its skyrocketing deficit. Who exactly will buy all of these government bonds remains unclear and the impact on interest rates could […]
Jerome Powell is like a kid playing with matches and he’s dangerously close to starting a fire he isn’t going to be able to control. The Federal Reserve nudged interest rates up again last week. It was the seventh hike since the Fed launched the current tightening cycle in December 2015. The Fed Funds Rate […]
The US debt continues to skyrocket and it’s costing Uncle Sam more and more money just to make the interest payments. The US public debt hit a record high of $21.145 trillion on the last day of May. Meanwhile, the cost of servicing all that debt also spiked, increasing by $26 billion through the first […]
A lot of seemingly positive economic data came out last week, but in his most recent podcast, Peter Schiff said it is just feeding into a delusional economic narrative that ignores the most fundamental storyline – debt. Everybody is talking about a new era of prosperity, but Peter said it’s a phony prosperity and it […]
Up until 1964, silver was literally money in the United States. Dimes, quarters and half-dollars were made from 90% silver. Looking at the value of these silver coins today reveals just how much the US government and Federal Reserve have devalued American money. Gold tends to get more attention than silver, but the white metal […]
Americans have loaded themselves down with debt and some are struggling to pay the bill. Total household debt hit a record $13 trillion in 2017, eclipsing levels seen on the eve of the Great Recession. Americans have been burning up the credit cards. Revolving debt grew by $26 billion in the fourth quarter of 2017 alone, a […]
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