>>18150109 (lb)
good one.
0:23 / 7:44
Wells Fargo Will No Longer Give Mortgage Loans To White People
7min
Salty Cracker
816K subscribers
1/15/2023
Speculation that 'THE' FDIC announcement is coming Friday Jan 20…
per Hal Turner, "Over the past 72 hrs, almost one TRILLION dollars has moved into blockchain crypto."
https://halturnerradioshow.com/index.php/en/news-page/world/covert-intel-banks
>>18127090 (pb)
>>18127506 (pb)
>>18127260 (pb)
>>18127098 (pb)
>>18127113 (pb)
>>18127566 (pb)
WEF Davos The Annual Meeting 2023 16-20 January
Chinese Lunar New Year 1/22
Belarus/Russia Live Exercise Jan 16-Feb 1
https://twitter.com/WallStreetSilv/status/1608510850700017667
Wall Street Silver on Twitter: "FDIC quote: "You don't want a huge run on the institutions, and, and they're going to be". Another major clip from the FDIC meeting showing this is going down, soon. They are expecting it. From Nov 2022 meeting … 🔊sound …🤨 https://t.co/yEb1G8sXLA" / Twitter
https://twitter.com/WallStreetSilv/status/1608294141812785152
Wall Street Silver
@WallStreetSilv
They don't want the public to see this video.
The bankers don't trust the banks.
(Nov 2022)
They're talking about financial crisis and their lack of faith in our banking system and how to keep the public from freaking out (Federal Deposit Insurance Corporation) 🚨
🔊sound 😂
keystone accented podium.
https://www.zerohedge.com/personal-finance/ticking-time-bomb-rising-consumer-debt-and-rising-interest-rates
A Ticking Time Bomb: Rising Consumer Debt And Rising Interest Rates
Rising consumer debts colliding with rising interest rates is a ticking time bomb.
Over the last several months, consumer debt has climbed at a steep, steady pace as Americans struggle with rising prices. November was no different, with consumers piling on another $27.9 billion in debt.
With the 7.1% increase in consumer debt in November, Americans now owe a record $4.76 trillion, according to the latest data from the Federal Reserve.
This is a big problem for the Fed as it tries to battle rising prices with interest rate hikes. The inflation that the central bank created is forcing people to go deeper into debt. Meanwhile, the inflation fight is making debt more and more expensive.
The Federal Reserve consumer debt figures include credit card debt, student loans, and auto loans, but do not factor in mortgage debt. When you include mortgages, US consumers are buried under more than $16.5 trillion in debt.
Americans are running up credit card balances at a dizzying pace. In November, revolving credit increased by $16.4 billion. With that 16.9% increase, Americans now owe nearly $1.19 trillion in revolving debt.
To put the increase into perspective, the annual increase in 2019, prior to the pandemic, was 3.6%. It’s pretty clear that with stimulus money long gone, Americans have turned to plastic in order to make ends meet as prices continue to skyrocket.
The rapidly growing levels of credit card debt should raise eyebrows, but as ZeroHedge pointed out in a tweet, the real problem is the double whammy of rising debt and interest rates.
It's not the record credit card debt that's the risk: everyone knows about that. It's the record credit card debt - and - the record interest rate on that debt that is the real time bomb. pic.twitter.com/K6rwXYMStT
— zerohedge (@zerohedge) January 9, 2023
Average credit card interest rates have eclipsed the record high of 17.87%. The average annual percentage rates (APR) currently stand at 19.59%.
NBC News reveals just how much rising interest rates are costing indebted consumers.
Bankrate data shows it would take 16 years for someone to pay off the current average credit card balance of $5,474 by making the minimum payments at 19.2%. At that point, they would have shelled out $7,365 in interest alone.”
As economist Daniel Lacalle put it, rising interest rates are on a collision course with a wall of debt.
Non-revolving credit, including auto loans and student loans, rose by $11.5 billion, a 5.9% annual increase. That was slightly below October’s increase. Total non-revolving credit now stands at $3.57 trillion.
The mainstream continues to spin rising indebtedness as a sign of a healthy economy. MarketWatch proclaimed, “While some households are borrowing more to withstand inflationary pressures, economists see the growth as mainly a sign of strength in the economy.”
But running up credit card balances month after month is not a sign of a healthy economy. In fact, it reveals the dysfunction in an economy that is addicted to artificially low interest rates and money printing.
The bottom line is that Americans continue to borrow at an excessive rate because they don’t have any other way to make ends meet. People don’t run up their Visa balance month after month to buy groceries when they are in “very strong” financial shape.
The stimulus checks are long gone. Savings are being depleted. The average person has no choice but to pull out the plastic. Of course, this is not a sustainable trajectory. A credit card has this inconvenient thing called a limit.
agreed. yet they do not pass nor sign BILLS into law that need to be funded by debt, so you are gonna need more supermaxes
https://www.zerohedge.com/markets/yellen-warns-us-will-hit-debt-limit-next-thursday-will-take-extraordinary-measures-avoid
Yellen Warns US Will Hit Debt Limit Next Thursday, Will Take Extraordinary Measures To Avoid Default
Exactly as we warned here, Treasury Secretary Janet Yellen just wrote a letter calling on Congress to raise the debt ceiling as soon as possible, stating that the US will reach its limit next Thursday, Jan. 19.
Then, she says, “extraordinary measures” will be used to keep paying bills, which she expects to continue until "early June"…
"While Treasury is not currently able to provide an estimate of how long extraordinary measures will enable us to continue to pay the government's obligations, it is unlikely that cash and extraordinary measures will be exhausted before early June," Ms. Yellen wrote to Congressional leaders.
Honoring US debt is “a sacred obligation,” and Congress will have to deal with it “without conditions, without games and without putting our economy at risk, ” White House economic adviser Brian Deese says on Bloomberg TV, seemingly foregetting Democrats' historic gamesmanship with Trump over the debt ceiling.
“The last thing that we can afford is to violate the Hippocratic oath by having a self-inflicted wound on the economy,” he added.
As we detailed previously, Goldman's chief economist Jan Hatzius said:
"The debt limit likely poses the greatest political risk next year, and we expect it to rival the 2011 episode in its disruption to financial markets and the economy. That said, we do not expect Congress to enact major fiscal changes. Republicans might press for spending cuts in a debt limit deal, but we do not expect substantial cuts next year. The White House might press for increased fiscal support, but this also looks unlikely as we believe a soft landing is more likely and a divided Congress would have difficulty responding to a recession even if one occurs."
Goldman believes the government is not actually at risk of defaulting until the second half of 2023 because of the extraordinary measures the Treasury usually uses to avoid exceeding the cap, including using up the existing Treasury cash balance and funding from tax payments.
And so, the question is not if and when the US will breach the debt ceiling and cross the infamous D-Day, but how will broken Congress reach a solution. As we explained one week ago in "Investors Are Already Dreading The Debt Ceiling Chaos In 2023", not even the always cheerful Wall Street expects a smooth and drama-free resolution to a process that will be nothing short of absolutely chaotic and expose the full Congressional dysfunction for the entire world to see.
if? bruh…
enjoy and be good in mind to be without them.
be prepared to adapt to and overcome potential inbound scenarios and emotions