Advance Placement: America's Debt Addiction: Don't Go Broke Trying To Look Rich
Earn Your Leisure
iHeartPodcasts
4.9 • 7.9K Ratings
🗓️ 25 May 2023
⏱️ 13 minutes
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Summary
In this Advance Placement we discuss the consumer debt up 2.9 trillion totaling 17 trillion dollars for the first time.
#earnyourleisure #debt #trillion
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Transcript
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| 0:00.0 | Let's get into this consumer debt passes 17 trillion for first time. |
| 0:08.3 | So Americans have racked up with $17 trillion in debt. |
| 0:14.4 | That is up 2.9 trillion from 2019. |
| 0:19.6 | And the main catalyst of this is auto loans credit card deaths, |
| 0:26.0 | student loans and mortgages. |
| 0:28.8 | The average American has 59,000 dollars in debt. |
| 0:33.0 | 41,000 of that is in mortgage. |
| 0:36.6 | 5400 is in auto loans. |
| 0:40.1 | 5600 is in student loans and 34. |
| 0:43.2 | 100 is in credit card debt and 46% of credit card holders |
| 0:49.9 | maintain debt from month to month on their credit cards. |
| 0:53.7 | They're not paying off their balances in full every single month. |
| 0:56.8 | So all right. |
| 1:00.0 | 17 trillion dollars for Americans and debt. |
| 1:06.6 | Yes. |
| 1:08.3 | We don't want to say we're never session and the VIX is still that. |
| 1:11.9 | Let me go check right now. |
| 1:12.8 | I think the VIX is at 17 volatility index continues to get lower. |
| 1:18.4 | This reminds me in the scene and the big short. |
| 1:22.4 | When they're going to the credit rate and the even season saying, Hey, |
| 1:25.4 | these loans are defaulting. |
| 1:27.4 | Why have you not changed the grade of the loans and they're like, |
... |
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