Staggering Consumer Debt Nearing Recession Levels

Consumer Debt Has Increased by 47% Since 2008 and It’s Reaching a crisis point. surprisingly, just about every major type of credit has increased since the last recession. Student loans are up 146% even though the number of students attending college hasn’t increased. And auto loans are up 36%, according to the St. Louis Fed.

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Staggering Consumer Debt Nearing Recession Levels/ Fed is trying to crash the market Trump says U.S. agency will begin removing millions of illegal immigrants Judge Jeanine (fantastic) opening statement

Even with debt higher than it has ever been, the monthly cost of servicing that debt is near the lowest level in 35 years, meaning consumers can do it easily, according to Moody’s Analytics.

(Source: "Household Debt And credit report (q2 2017)," Federal Reserve Bank of New York, last accessed November 7 2017.) First-Time Home Buyers Refrain from Buying. But don’t just stop here. There’s more evidence suggesting that American consumers are struggling and that the economy could be closing in on a recession.

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And though consumers have deleveraged since the crisis, and the popular perception is that consumers are in much better shape today, consumers are in fact carrying 13 percent more debt as a percent of GDP than they were in 2000, the moment before the ill-fated private debt boom that led to the 2008 crisis began.

US household debt passes its pre-recession peak.. Mellody Hobson on rising consumer debt .. Mortgages and credit card debt remain below pre-recession levels, with student and auto loans make.

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Staggering Consumer Debt Nearing Recession Levels/ Fed is trying to crash the market Trump says U.S. agency will begin removing millions of illegal immigrants Judge Jeanine (fantastic) opening statement

Millennials, raised during the Great Recession, historically have stayed. in sign-up bonuses and travel credits. The rise in consumer debt also picked up as the Federal Reserve was nearing an end.