In the entire history of the United States, consumers have never been in so much debt. And that would not be a crisis as long as the vast majority of us were regularly making our debt payments, but as you will see below delinquency levels are starting to rise to extremely alarming levels. In fact, some of the numbers that are coming in are even worse than we witnessed at any point during the last recession. If things are this bad already, what are they going to look like once the economy really gets bad?
Because even though it appears that we are heading into a new recession, according to the Federal Reserve it has not officially begun yet. That means that much worse is yet to come. Just like last time, millions of Americans will likely lose their jobs, and without an income most of those that suddenly find themselves unemployed will not be able to pay their bills. The stage is set for the largest tsunami of consumer debt defaults that this country has ever seen, and that will absolutely devastate major financial institutions all across America.
If you think that I am exaggerating even a little bit, please read over the following list very carefully. The following are 12 statistics that prove that the U.S. is facing a consumer debt apocalypse…
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2 comments:
Consumer debt? That's the debtor's problem. Pay your damn bills and be responsible.We're not going to be here in 12 yrs anyway.
8:10
You need to check out Guy PcPherson, former university professor of the University of Arizonia. According to him, we have less than nine years before most of humanity will go extinct!!!
Blog is nature bats last. Website is: guymcpherson.com
According to him, it is too late for all of humanity. There is nothing we can do to reverse the damage that has already been done. Too much C02 and Methane in the Atmosphere. According to him, stopping green house gases will only speed up the process of warming. His youtube videos are impressive. According to him, he suggests to live life to it's fullest, and love on another and just accept your fate.
For everyone's sake, I only hope and pray he is wrong, but there are many others who are coming out to support his statement. I am reading one of his books now. He is not a liberal. He blames both parties and government inaction worldwide for the problems. Apparently this has been known for more than a hundred years! When the north polar icecap finally melts, the jet stream will be totally altered. The jet stream right now isn't stable. That is why we are seen the wild weather happening in the world today.
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