Consumer Credit

Is America In Terminal Decline?

"The cut-off point is 2009... Before that, borrowing could create the illusion of a rising standard of living. Those days are gone. And it’s very hard to see, when you take a good look, what could make them come back."

The Disconcerting Message Behind The Plummeting Savings Rate

We don’t disagree with Citi’s conclusion that the savings rate can keep on falling. However, we strongly disagree that it’s a function of “healthy consumer metrics”. In contrast, it’s a horrendous reflection of the creeping erosion in living standards across the broad swath of the population.

Bank Stocks, Dollar Slide Hit By Fresh Tax Reform Doubts

U.S. equity futures are little changed as European and Asian shares retreated, led by sliding bank stocks and a drop in the dollar as doubts over republican tax cuts and ongoing bond curve flattening hurt sentiment and prompted fresh questions over the viability of the US expansion.

Global Stock Meltup Sends Nikkei To 25 Year High

The global risk levitation continues, sending Asian stocks just shy of records, to the highest since November 2007 and Japan's Nikkei topped 22,750 - a level last seen in 1992 - while European shares and US equity futures were mixed, and the dollar rose across the board, gains accelerating through the European session with the EURUSD sumping below 1.16,

GoldCore's picture

The UK economy is facing an unprecedented slow recovery, with growing levels of debt across the country and an ever-complicated divorce from the EU. The outlook for savers and investors is bleak as few have confidence left in the health of British finances. 

More Bad News For Autos: Wells Fargo Car Loan Originations Crash To All Time Low

While Wells Fargo's earnings report was disappointing, missing on revenue and reporting another decline in overall loan growth, it contained another flashing red light: auto loan originations crashed 47% Y/Y to only $4.3 billion, the lowest print since the bank started disclosing this item back in 2013.