Tag: consumer debt
Credit Card Delinquencies Spike Among the “Rich”
June 6, 2024
Inflation can be felt at every tax bracket. Federal Reserve Bank of Minneapolis President Neel Kashkari came out this week and said the public “viscerally...
EconomicsCap on Credit Card Late Fees Hurt Financially Illiterate Americans
March 6, 2024
The Biden Administration implemented a new rule that will cap credit card late fees at $8. The Consumer Financial Protection Bureau has praised the measure,...
Basic ConceptsStudent Loan Forgiveness Promise Backfires
June 21, 2023
The student loan forgiveness plan backfired plain and simple. Payments were frozen three years ago in March 2020 under the CARES Act when countless people were out...
EducationCredit Card Debt on the Rise
June 5, 2023
Credit card debt in the US spiked to its highest quarterly level in Q4 2022 after increasing by $85.8 billion. The average American household has about $10,000 in...
USA Current EventsCredit Card Debt on the Rise
June 14, 2022
The various handouts and moratoriums during the pandemic drove the personal savings rate down to World War II levels. Everything was closed – there weren’t many...
USA Current EventsThe Psychology Behind Consumer Spending and Hedonic Adaptation
October 18, 2021
Consumer debt in the US reached $14.88 trillion in 2020, according to Experian’s consumer debt study. That is a $3 trillion increase in the past decade, and...
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