The real American crisis is with debt. Every person is seemingly drowning in at least one type of debt. You look at mortgages, credit cards, and home equity line of credit. But it goes beyond the individual, cities and states, and even corporations are in record levels of debt. There was a moment in time in which debt was beginning to be paid off. It was during the Financial Crisis. Just a slight drawback in debt levels nearly collapsed the entire global financial system. But perhaps we should take advice from the old saying “have your cake, and eat it too”. What could possibly go wrong?
Shutdown highlights that 4 in 5 US workers live paycheck to paycheck
https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html
Living Paycheck to Paycheck is a Way of Life for Majority of U.S. Workers, According to New CareerBuilder Survey - Aug 24, 2017
http://press.careerbuilder.com/2017-08-24-Living-Paycheck-to-Paycheck-is-a-Way-of-Life-for-Majority-of-U-S-Workers-According-to-New-CareerBuilder-Survey
58% of Americans Have Less Than $1,000 in Savings | GOBankingRates
https://www.gobankingrates.com/saving-money/savings-advice/average-american-savings-account-balance/
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credit – NorthmanTrader
https://northmantrader.com/2019/01/19/the-hidden-revelation/credit-23/
UE – NorthmanTrader
https://northmantrader.com/2019/01/19/the-hidden-revelation/ue-26/
3-Month London Interbank Offered Rate (LIBOR), based on U.S. Dollar | FRED | St. Louis Fed
https://fred.stlouisfed.org/series/USD3MTD156N
Does the corporate debt mountain pose an avalanche risk?
https://www.france24.com/en/20190120-does-corporate-debt-mountain-pose-avalanche-risk
