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Weekly Market Update: Protect Your Retirement Account from Record Level Credit Card Chargeoffs Lately it seems the economic news only continues to get worse. In the last few weeks, consumer credit has reached all- time highs and auto delinquencies have neared those not seen since the worst point of the Great Recession. This past week, lenders had still more negative news to digest. The subprime category o Read more
Did you see what U.S. Treasury secretary Steven Mnuchin said about bitcoin? “‘This is indeed a national security issue,’ Mnuchin told reporters at a press conference yesterday. ‘Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs, and human trafficking,’ adding that Fac Read more
Weekly Market Update: Protect Your Retirement Portfolio from Great Recession Peak Auto Loan Delinquencies The most recent data out of the New York Fed is ominous. The current auto loans that are in serious delinquency (meaning that they are over 90 days past due) has jumped to a percentage of 4.69 percent for first quarter 2019 . In the darkest days of the Great Recession, they only peaked a bit higher at 5. Read more
Did you see this? From a July 10 article at Forbes titled “Bitcoin To $20,000:” “If bitcoin (BTC) breaks $14,000, it is going straight to $20,000.” Check out this chart from the article (chart by ADVFN): Image Quite volatile. The author argues that the bigger the volatility, the greater the potential upside. Of course, you may think: “the greater the potential downside as well.” Th Read more
BTC NETWORK POWER CONTINUES GROWTH, HITS NEW RECORD HIGH New hashrate numbers have shown that the Bitcoin network is now 8 times more powerful than it was at its $20k price peak in late 2017. Data from Bitcoin network monitor Blockchain.com confirmed that the Bitcoin network’s total hash rate reached a peak of 79 trillion terahashes per second (TH/s) earlier this week, passing the previous all time high of 70 t Read more
