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The Federal Reserve reported on July 8, 2011 that consumer debt rose $5.1 billion in May, the eighth straight monthly increase. It followed a revised gain of $5.7 billion in April. Borrowing in the category that covers credit cards increased, as did borrowing in the category for auto and student loans. The Federal Reserve’s borrowing Continue reading Consumer Debt Increases Again – Credit Cards, Auto Loans and Student Debt Rise Save More Money Banks and financial websites are offering more innovative tools, incentives and higher rates these days to help you pump up your savings. Programs like Bank of America’s Keep the Change even kick in some money to help you out in the beginning. Others like SmartyPig.com are dishing out cash-back rewards on their co-branded prepaid Continue reading Tools, Incentives and Higher Rates to Help You Save Federal Reserve Bank of Dallas President Richard Fisher said he sees economic growth picking up in the second half while remaining slow, and the Fed sustaining its record asset holdings for an “appropriate” period. “It’s going to take quite some time to achieve a glide path that brings unemployment down significantly. It’s a slow recovery and Continue reading Debt and Unemployment Keeping Economy Growth Slow – Fisher The quantitative easing that the Fed provided may have helped debt and equity markets. Mark Zandi, chief economist at Moody’s Analytics, said the QE2 bond purchases gave a sagging economy a lift by slightly reducing borrowing costs for businesses and consumers and by raising stock prices to make people feel wealthier. Still, it didn’t much energize Continue reading Debt, Equity and QE2 – Bond Purchases May Have Helped Households may struggle for a while longer. One major reason: their household debt. Many experts say private debt owed by households is an even bigger problem than the government debt that’s getting so much attention lately. And it won’t be solved without a difficult stretch of high unemployment and slow growth that will likely last for Continue reading Debt Deleveraging is Why Households Continue to Struggle Millions of households have more money to spend since they fell delinquent on their mortgages amid the housing collapse. They are staying in their homes for free about a year and a half on average, buying time to restructure their finances and providing an unexpected support for consumer spending, which makes up about 70 percent Continue reading Homeowners Not Making Mortgage Debt Payments is Helping Economy Savings, income and spending figures hint at higher household debt. Americans’ disposable incomes, or the money left over after taxes, rose 0.1 percent after adjusting for inflation, following no change in February, a reminder of the challenge represented by rising food and energy costs. The Commerce Department said today that the savings rate held at 5.5 Continue reading Household Debt Up?: Savings Rate Unchanged, Incomes Rise Little, Spending Up First-quarter earnings from equities across the globe have beaten forecasts so far. A self-perpetuating cycle of wealth growth, productivity increases, and perhaps job growth, appears to be underway. Since April 11, 71 percent of MCSI World Index members reporting results have topped analysts’ estimates for earnings per share, according to data compiled by Bloomberg. Profits of Continue reading Global Investment, Productivity and Job Growth Ramping Up Lack of jobs, debt contraction across the economy and people lacking needed employable skills have all contributed to increased use of safety nets. Government welfare is being used by one in six Americans. Just as private debt contraction by households and businesses is driving people to government safety nets, future debt contraction within the government promises Continue reading Government Welfare: A Growth Industry Threatened by Government Debt Contraction The sharpest drop in unemployment in more than a quarter century obscures a simple fact: The jobs market still isn’t working for many Americans. Some 6.3 million people have been out of work and looking for a job for more than six months. The employment-to-population ratio is lower than it was when the recession ended as Continue reading The Job Search – the Hunt for a Good Job in the U.S. |
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