Jeff Yastine and Ted Bauman on Consumer Debt Crisis In America
Jeff Yastine is a giant name in the financial world. He began his journey after graduating from University of Florida with a BA in Telecommunications in 1986. Launching his career into financial journalism, he made regular appearances on the popular show, the Nightly Business Report where he shared his valuable insight on finance and economics. Connect with Paul Mampilly by visiting his linkedin acount.
Having brought over twenty years of experience as an investor and as a financial journalist, Yastine makes his way into Banyard Publishing in 2015 as editorial director. Now editor of Total Wealth Insider, Jeff still contributes to Winning Investor Daily as well as the reputable Banyard Hill’s Sovereign Investor Daily.
Once again, Jeff sets his sights on an up and coming issue we all should be paying attention to. Consumer Debt is at an all-time high in America, according to financial expert Jeff Yastine. For the average American, there are many who are going to go into debt this year at an alarming rate.
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— Jeff Yastine (@JeffYastineGuru) July 10, 2018
Yastine takes a closer look at what could be the cause. He starts out with a critical analysis of the stock market and how it could correlate to consumer debt. Jeff Yastine also goes on to say that although the economic prices of stock are on the rise, it will not last for long.
What seemed to be the cause of one of the highest peaks in consumer debt history in 2007 is different than what the average American is facing now. At that time one of the biggest contributors of debt was mortgage loans. With a decrease in the interest rates, things have gotten a bit easier to keep up with mortgage payments. Yet an even more urgent issue is presenting itself.
It has been reported through a study conducted by the Federal Reserve Bank, that during the fourth quarter of 2017 national debt jumped up to the steep number of $13.15 Trillion dollars. Compared to the third quarter in 2008 where the national debt was $12.68 Trillion, there is a dramatic increase.
Although there is an increase, Yastine says that interest rates to loans are lower so the average American can continue to pay bills. However, should the Federal Government increase their interest rates, we might be faced with trouble far sooner than we think. To learn more about Jeff Yastine, visit: https://jeffyastineguru.com/