Debt Apocalypse: US Student and Auto Loans Hit New Record of $2.6 Trillion.
mybudget360.com / 05/07/2017
American consumers are once again spending beyond their means. Just a few months ago there was a startling headline reporting that US consumers now had over $1 trillion in credit card debt outstanding. That seemed astonishing in itself but now looking at debt levels in other sectors we find thatauto loans outstanding are also over $1 trillion. Keep in mind this is for an item that will lose value once it is taken off the lot. You also have student debt over $1.4 trillion which is amazing given many young Americans are working in jobs that really don’t require a college degree. The debt apocalypse is once again upon us and we better hope the economy keeps on running on fumes or we will be confronted with another solvency crisis shortly.
The debt numbers broken down
The figures are stunning to see:
Student debt outstanding: $1.44 trillion
Auto loans outstanding: $1.12 trillion
It is no surprise that we have so many Americans struggling under the weight of debt and then we wonder why many families are too broke to even afford an entry level home. Many young Americans are entering the workforce with what amounts to a mini-mortgage.
Here is the incredible growth in student debt and auto loans:
The post Debt Apocalypse: US Student and Auto Loans Hit New Record of $2.6 Trillion. appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/05/07/debt-apocalypse-us-student-and-auto-loans-hit-new-record-of-2-6-trillion/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).