Credit Card Delinquencies = Bank Troubles

Credit card delinquencies (missing a payment by over 30 days) have been steadily rising across America.

 

This ultimately spells trouble for the banks.

 

And to no one’s surprise, credit card delinquencies are now exceeding pre-pandemic levels.

 

Ironically (or NOT) the Fed believes this suggests “that a trend which began prior to the pandemic has accelerated.”

 

The FED also recently noted that:

 

“The richest 10% of ZIP codes have experienced the greatest proportional increase; their delinquency rate climbed from 4.8% in the second quarter of 2022 to 7.4% in the first quarter of 2024, or 54% in relative terms.”

 

“For the poorest 10% of ZIP codes, the delinquency rate increased from 14.9% in the third quarter of 2022 to 21% in the first quarter of 2024, or 41% in relative terms.”

 

TRANSLATION:  The delinquencies show that the rich are feeling the effects of reckless government spending just like the poor.

 

And for everyone else in between…every region in America has experienced an increase in delinquencies by AT LEAST 32.2% in relative terms.

 

 

Credit Card Delinquencies Means…

 

 

…Real prices have far surpassed anything they calculate in the Consumer Price Index (CPI).

 

And everyone understands that prices have risen far more than the arbitrary number the FED tosses out to us.

 

Unfortunately, taxes are continually increasing for everyone in every tax bracket.

As a result, the government not only adds to inflationary issues with their reckless spending but then expects us (their citizens) to foot a portion of the bill with taxes…which they, in turn give away to illegal immigrants.

 

 

 

 

And then the Boyz in the District of Corruption tell the masses to blame the corporations for price gouging while raising business taxes and making it increasingly difficult to conduct business.

 

The Presstitutes are not reporting it but we are seeing countless people entering survival mode.

And people everywhere want to hold onto whatever they may have out of fear of the future.

 

As a result, inflation is outpacing wage increases and people are watching their savings dwindle…while spending less.

 

Bottom line here?

The average person does not care about the overall health of the economy.

They simply want to be able to continue maintaining or improving their standard of living.

 

And when the banks start going belly-up from people defaulting on credit cards you will hear the banksters say:

“I’m shocked I tell you, shocked…Who could’ve foreseen this happening?”

 

Don’t be one of the shocked.

Instead, learn how to prepare for the inevitable in our June edition of “…In Plain English” (HERE).

 

Share this with a friend…even if they don’t have credit card debt.  They’ll thank YOU later.

 

And tell them:

 

We’re Not Just About Finance

But we use finance to give you hope.

**********************************