The U.S. economy is on the verge of crisis, with alarming indicators pointing to an inevitable downturn. The November 2024 Consumer Sentiment Index plunged to 71.8, reflecting widespread anxiety among Americans about their financial futures.
Credit card loan defaults have soared to levels not seen since the 2008 financial meltdown. In the first nine months of 2024, lenders wrote off $46 billion in seriously delinquent balances—a staggering 50% increase from 2023. Lower-income Americans are in dire straits, with Moody’s Analytics revealing their savings rate has hit zero, leaving them unable to make even minimum monthly payments.
(Also commercial real estate is collapsing. And the stock market is way over valued.)
Poster Comment:
Mortgage Crisis Looms in Canada: Arrears Rates Surge by 50%, and Its Just the Beginning. Even Earning $100K+ Are Drowning in Housing Costs.
https://citizenwatchreport.com/mortgage-crisis-looms-in-canada-arrears-rates- surge-by-50-and-its-just-the-beginning-even-earning-100k-are-drowning-in-housing- costs/