People Have STOPPED PAYING THEIR BILLS!

The Chicago FED just reported a deep concern for the rising delinquencies on all forms of consumer debt, including credit card, delinquencies, auto loan delinquencies, student loan, delinquencies and non payment of rent. This cascading wall of debt is not only hitting consumers but the U.S. economy as a whole as businesses are also reporting a slowdown in hiring and more planned layoffs coming.

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Articles Mentioned in the Video

#realestate #housingmarket #homeprices #housingmarketcrash

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[proppxf]

If only the entire nation would stop paying their taxes.

[amateurcrastinator]

Let's be real. This is all by design.

[DetroitLionsStuff]

It is cheaper for my family to buy a round trip plane ticket to Bulgaria (where my wife is from) and get medical and dental procedures done there. Than to drive to the doctor down the road and get treatment. This country is a joke.

[nicolasbenson]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[thepuffin-ssln]

The "leaders" in this country look like people stealing the silverware while the titanic sinks

[MichaelPaparelli]

Slavery didn't END. It just encompassed all the races.( charles Bukawski).

[thearchtect]

The one guy I work with said and I quote "why bother because it doesn't matter whether I do the right thing or the wrong thing, the outcome is the same". When normally moral and ethical people start speaking and acting this way we are in big trouble people!!

[Dantursi]

Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[JustSomeGoy]

Our government doesnt pay it's bills, why should citizens?

[sts]

All I'm gonna say is I'm old enough to remember when mom stayed home and dad worked. Those were the best days in America.

[easyranger]

I word two jobs - one pays 125K and the other pays 60/hr and I put in 35 hours a week on average at that job. I am probably heading to bankruptcy and I own absolutely nothing. I have no school debt, no fancy cars, no assets of any sort, I haven't gone on any vacations in a decade. What killed me is medical debt and medical costs that were put on credit cards like medications. My wife needed cancer care and insurance wouldn't approve medications she needed when she needed them. I paid out of pocket and she's alive and in remission and our children had a mother to see them graduate from school. However, it cost me my house, my vehicles, my savings, my 401K, and I'm over 100K in debt. Basically I had to come up with funds or she would die. It is neither exaggeration nor hyperbole to say that it was like a hostage negotiation situation and I had to pay or watch her die in front of me. Unless you've got eight figures in the bank the medical world can destroy you financially so quickly it will take your breath away.

[tonysilke]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[JvilleNC]

I just lost a co-worker a couple of days ago due to the high rise of my job insurance premiums. He didnt enroll this past year cause he needed the extra money for bills. He rode a bicycle everyday to work. To save money. He fell off his bicycle about a week ago and hit his head. Didnt tell anyone. Few days later went to sleep and never woke up. He was only in his early 50's. His death could've been prevented easily. In trying to save more money to pay for the cost of living. It ended up costing him his life.

[Timbodacious]

People went to war to fight like 5% taxation, now people pay roughly 30% income tax PLUS taxes on all of their purchases and property. We failed ourselves by letting taxes increase.

[JENNerationX]

At this point people don’t care about credit rating - they care more about survival.

[loodath]

Dear citizens of the US: If you change nothing, nothing will change. We need to unite and take our country back, rather than continue to sit back and watch it all burn. The choice is OURS.

[samsaldate]

I make 60k a year and I have completely given up on ever being able to afford a house. I will just continue to work and live in my apartment until I get priced out of living in an apartment and then become homeless. Homeless at 60k a year what a joke!!!

[zPersius]

"Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need to impress people we don't like." - T.Durden (Chuck Palanhiuk)

[EcopureWindowCleaning]

Ive given up drinking, given up smoking, sold my car and just use the work truck. Cutting everything to the bone and we just get by. Inflation has been 25% easily the last 12 months on everything.

[niceguydmm]

First mistake! Sending our jobs overseas with NAFTA! Second telling everyone they need college! Our parents got wealthy by working in Mills, factories and owning businesses. Now its all made in China. Now all those empty factories that our parents worked are closed. Now we outsource jobs to India! Yeah that's why. Everyone wants a sit on your ass job and those are overseas now too! Thank all the CEO's and Government! My dad got his wealth with a 11th graded education. He was a plant manager in a textile mill for 30 years and started out as a floor mechanic. He spent his entire life working for the same company and retired very well off with a nice paid for home, owned two 40ft boats on the lake, owned land etc... We sent all that overseas to save money for the CEO's.