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A Sinking Economy: Is It The Trade War Or Debt?


 -- Published: Wednesday, 12 June 2019 | Print  | Disqus 

Dave Kranzler

In April credit card debt was once again the largest contributor to the new all-time high in consumer debt, increasing by $7 billion vs. a decline of $2 billion in March. Student loan and auto debt hit all-time highs of $1.6 trillion and $1.16 trillion, respectively. I found the credit card debt numbers interesting because a report released by Experian showed that 23% of Americans need credit card debt to pay for food and rent – i.e. make ends meet.

The Achilles Heel of the U.S. economic and financial system is debt. Easy credit artificially stimulated the U.S. economy (and global economy) for the last 8 years. Most households are running out of their capacity to take on more debt, which means consumption – 70% of economic activity – is going to contract.

Rethinking The Dollar invited me to discuss the trade war, the economy and precious metals and why stock market catastrophe is baked into the cake:

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 -- Published: Wednesday, 12 June 2019 | E-Mail  | Print  | Source: GoldSeek.com

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