_{ECONOMIC NEWS}

The World is Trapped: No Escape from a U.S. Economy Unraveling Without an Anchor

Global stock markets have just experienced their strongest week since November, but don't be fooled—this brief rally masks deep-seated fears and uncertainties that could spell disaster. The global post-pandemic economy is hanging by a thread, with inflation still uncomfortably high, growth rates unstable, and public finances stretched to the breaking point. The financial markets, once anchored by stable long-term interest rates, are now drifting into dangerous territory, driven by fears of repeated economic shocks and fragile global supply chains.

A recent Goldman Sachs study warns that higher long-term interest rates may be needed to stabilize economies, but no one should feel confident that this will hold. The stakes couldn't be higher as the U.S. presidential election looms, with candidates presenting starkly different visions that could either stabilize or destabilize not just the U.S., but the entire global economy. Kamala Harris's cautious economic proposals pale in comparison to the potential chaos of a second Trump presidency, where gut feelings and economic populism could lead to catastrophic outcomes. Financial markets are on edge, and the months ahead promise nothing but volatility and uncertainty. If this all sounds ominous, it’s because it is—brace for impact. Read More.

_{FINANCIAL 101}

American Household Debt Explodes to Alarming Levels Amid Crushing Consumer Crisis

American household debt has skyrocketed in recent years, creating a terrifying financial storm that's driving delinquency rates to their highest levels in over a decade. According to a recent report from the Federal Reserve Bank of New York, credit card debt alone has surged by a staggering 48.1% since early 2021, now reaching a record-breaking $1.14 trillion. Overall household debt, including mortgages and auto loans, has ballooned by 21.6% to a massive $17.8 trillion.

As debt burdens soar, the consequences are dire: 9.1% of credit card balances and 8% of auto loans have slipped into delinquency, levels not seen since the aftermath of the 2008 financial crisis. This crisis is unfolding against the backdrop of relentless inflation, which hit a 40-year high in 2022, prompting the Federal Reserve to hike interest rates to their highest point in 23 years.

Experts warn that this debt surge is more about desperation than confidence, with stubborn inflation and sky-high interest rates pushing many Americans to the brink. The situation is so precarious that if unemployment spikes, the already grim scenario could rapidly deteriorate into a full-blown financial catastrophe.  Read Now.