Americans Continue to Pile on More and More Debt
American consumers continue to cope with rising prices and prop up the sagging economy using their credit cards. Total consumer debt rose another $23.8 billion in July to a record $4.644 trillion, according to the latest data from the Federal Reserve. On an annual basis, consumer debt rose by 6.2%, moderating somewhat from the last few months as the CPI cooled thanks to a drop in energy prices. 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 $16.2 trillion in debt. [Schiff Gold]
CFPB Plans to Regulate Buy-Now, Pay-Later Companies
The U.S. Consumer Financial Protection Bureau plans to start regulating “buy-now, pay-later” companies like Klarna and Affirm due to worries their fast-growing financing products are harming consumers. The watchdog, which does not currently oversee BNPL...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...