In the United States, total student loan debt has skyrocketed to $1.3 trillion. The big caveat inside this astronomical figure is that a large percentage of that money is not being paid back. According to a new chart from the Visual Capitalist, the delinquency rate of student loan debt has hit double digits, and is […]
Archives for June 2016
76 million Americans are struggling to get by or are barely making it: Fed study
“I don’t have to tell you things are bad. Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickel’s worth. Banks are going bust. Shopkeepers keep a gun under the counter. Punks are running wild in the street and there’s nobody anywhere […]
German 10-year sovereign bond yields reach negative territory for first time in history
Germany has joined Switzerland and Japan in negative territory. The German 10-year benchmark sovereign bond declined to under zero for the first time ever Tuesday. Due to a weak global economic outlook and investors fearing a Brexit, the 10-year bond yield ended the European trading day at -0.0020 percent, according to Bloomberg News. The plummet […]
Canada’s Debt Crisis: Debt-to-income level stays near record high
Canadians from British Columbia to Nova Scotia are facing a personal debt crisis. In a low-rate environment and a weak national economy, Canadians are taking on too much debt, and the levels are nearing record highs. According to new data from Statistics Canada, the debt-to-income ratio in the first quarter of 2016 was 165.3 percent. […]
The Keynesian Blessing: Americans Are Broke
By: William L. Anderson Writer Neal Gabler recently “confessed” his “secret shame” in an Atlantic Monthly article on how a huge percentage of middle-class Americans are living beyond their means, existing paycheck-to-paycheck, and are mired in personal debt. He writes: I never spoke about my financial travails, not even with my closest friends—that is, until […]