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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
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
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
Federal Reserve Chairman Jerome Powell recently cut the key interest rate by a quarter percent for the first time since 2008 in what he deemed a "midcycle adjustment." Yawn. Why am I writing you about this? Because it points to deep, fundamental problems in our economy. We’re currently in the longest bull market in American history, and as CNN recently put it, “Bull markets and economic expansions don't d Read more
