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More Americans continue to rely on Buy Now Pay Later (BNPL) services to combat inflation and consumer debt

July 17, 2023 -

According to a survey by the Federal Reserve, approximately one in eight consumers has used a BNPL service at least once in the past 12 months, slightly up from the one in 10 who used the service in the same time period the previous year. GlobalData said the BNPL industry, valued at $309 billion, is projected to expand by over 25 percent in 2026 due to increasing demand.

Meanwhile, in a separate study of Adobe Analytics, the first two months of 2023 revealed a 40 percent ...

53% of Millennial and Gen Z consumers are resorting to “buy now, pay later” services and racking up enormous debt

a month ago -

BNPL providers like Afterpay Limited and Klarna Bank AB have witnessed a sudden shift in BNPL trends among their younger users over the past few years.

In 2021 and 2022, millennial and Gen Z consumers often used Afterpay to purchase "apparel and accessories." However, in 2023, "apparel and accessories" fell behind the categories of "arts, travel and entertainment," "home and garden" and "hardware." Afterpay has also seen double- and triple-digit surges among the youngest users ...

DEBT TRAP: 4,500 Walmart self-checkout kiosks offer “buy now, pay later” loans for basic items

January 03, 2024 -

The growing popularity of BNPL may seem like good news for shoppers on a tight budget, but in reality, it is a looming problem for consumers with credit card debt and little to no savings.

In December, Affirm Holdings announced that its BNPL service has been expanded to self-checkout kiosks at 4,500 Walmart stores across the United States.

Customers who use the service can purchase apparel, electronics, toys and other items. However, only shoppers who purchased at ...

Biden regime providing travel “loans” to illegals using nefarious UN migration scheme

2 months ago -

A program of the United Nations (UN) IOM Migration Program, which works in partnership with the United States Refugee Admissions Program, the Biden regime is handing out U.S. taxpayer cash to illegal aliens at zero interest. Once in the U.S., these illegal aliens never have to pay back their "loans."

According to the program's website, the "penalty and interest-free loans" – which are not available to struggling American citizens, by the way – only require that illegals ...

Regional banks trying to unload commercial real estate loans as new crisis looms

June 20, 2023 -

The stress seen in the commercial real estate sector right now is weighing heavily on banks and regulators alike, and it’s regional banks that are the most vulnerable. A Bank of America report shows that 68 percent of commercial real estate loans are currently held by regional banks. Moreover, estimates by JPModrgan Chase indicate that these types of loans account for an average 28.7 percent of regional and smaller banks’ assets and that 21 percent of commercial real estate loans ...

Incentivizing ILLEGALS: California to make border crossers eligible for zero-downpayment, interest-free home loans

2 months ago -

AB 1840 was first introduced by California Democrat Assemblyman Joaquin Arambula in mid-January and after several amendments, it advanced last week to the Committee on Housing and Community Development, where it awaits further action. Arambula last month told Fresno-based news outlet GV Wire that he "wanted to ensure that qualified first-time homebuyers include undocumented applicants." When the bill advanced to committee after amendments last week, he told the Los Angeles Times ...

HYPOCRITES: Florida Dem running for senator who wants her student loans forgiven OWNS A $3M MANSION

October 08, 2023 -

Mucarsel-Powell, who served for one term as the representative for Florida's 26th congressional district, is also running to receive the Democratic Party's nomination to challenge incumbent Republican Sen. Rick Scott.

Mucarsel-Powell and her husband, Robert Powell bought their home in Pinecrest, Florida in 2009 for $1.15 million. The 4,600-square-foot mansion, which boasts six bedrooms and five bathrooms, is now worth more than $3 million. (Related: Taxpayer money going ...

Number of Americans defaulting on subprime auto loans nearing levels not seen since the Great Recession

May 09, 2023 -

This is according to a new report from Florida-based fixed-income asset manager Bramshill Investments. The company's report noted that inflation and higher interest rates from the Federal Reserve – and as much as 20 percent interest rates on used cars – have been eroding the paychecks of all consumers in the United States.

"It is very apparent to us that it is negatively affecting subprime borrowers – who tend to have lower credit scores and lower incomes – more harshly ...

DESPERATE MOVE: Zelensky BEGS Western allies for more money, promises to pay back all loans after the war

November 10, 2023 -

"If you can't give us some financial support, okay," he said. "Please, give us a loan and we will pay you back after the war."

During this interview Zelensky was quick to emphasize the urgency of the situation for his country, claiming that, since the beginning of Russia's special military operation in late February 2022, the Ukrainian economy has been grappling with a series of challenges. (Related: Ukraine suddenly discovers money to manufacture its own weapons as ...

To keep the bubble market INFLATED before the CRASH, Zillow is now offering 1% down-payment home loans

August 30, 2023 -

As you may recall, the banks started offering all sorts of bizarre, subprime mortgages right before the markets went off a cliff. Some of those loans were confiscatory while others involved seriously risky adjustable rates.

To make a long story short, the whole thing imploded in time, and we are once again watching the same pot start to boil over as those who hold the purse strings of the American economy bring us into the late stage of the bubble before it bursts.

For ...

Biden admin to WIPE OUT $1.2B in federal student loans under new plan – essentially vote-buying using taxpayer money

2 months ago -

The Saving on A Valuable Education (SAVE) Plan seeks to provide relief to enrolled borrowers who have diligently made payments for at least 10 years and initially borrowed $12,000 or less for their college education. Under this plan, borrowers receive debt discharge after 20 or 25 years, depending on whether they have loans for graduate school. It also allows for additional debt discharge for every $1,000 borrowed above the $12,000 threshold, with borrowers being eligible after ...

SCOTUS BYPASSED: Biden’s education department to automatically WIPE OUT $39 billion in student loans, despite Supreme Court ruling against it

August 20, 2023 -

Some of more than 800,000 student borrowers already started receiving emails from their services with the subject line "Your student loans have been forgiven," signaling the canceling of debts of those who qualify for relief under their repayment plans.

"The forthcoming discharges are a result of fixes implemented by the Biden-Harris Administration to ensure all borrowers have an accurate count of the number of monthly payments that qualify toward forgiveness under income-driven ...

US credit card debt rises to historic high of $1.03 trillion

August 09, 2023 -

This is according to the Federal Reserve Bank of New York, which noted that total credit card debt rose by nearly five percent, or about $45 billion, during the second quarter of 2023 to a new high of $1.03 trillion. This is the highest gross value in Fed data going back to 2003. (Related: Survey: The average American has over $54,000 worth of debt and would do almost anything to get rid of it.)

The Fed noted in its credit report that the rise in credit card balances ...

Fifty-two countries on verge of debt default, UN warns

July 19, 2023 -

At a recent meeting of G20 ministers in India, the subject of debt relief was brought up as a follow-up to the publishing of a UN report the week prior detailing the fact that half the planet is on the verge of defaulting.

The point of the meeting, which took place in Gandhinagar, Gujarat, was to try to work through a way to restructure the debt held by the worst-off developing nations, but very little progress, if any, was made.

"I think the bottom line is, as of ...

Largest U.S. banks have most toxic commercial real estate exposure

a month ago -

The nation's six largest banks saw delinquent commercial property loans nearly triple in 2023 due to high vacancy rates and ever-increasing borrowing costs. Delinquencies among these six large banks reached a whopping $9.3 billion last year.

By far the largest CRE lender among the big banks is JPMorgan Chase & Co., which has issued $171 billion worth of CRE loans, amounting to 12.6 percent of its total loans.

Wells Fargo & Company is pretty close with $145 billion ...

Portent of things to come: Move to go cashless by McDonald’s greeted with calls for BOYCOTT

February 01, 2024 -

It began when one disgruntled customer shared a photo of the sign at a McDonald’s drive-through in Clayton South, Melbourne, which informed diners that cash would not be accepted at specific times.

According to the sign shared in the "Cash is King" Facebook group, cash payments would no longer be accepted from midnight to 6 a.m. due to safety reasons for both staff and customers. "Thank you for your continued cooperation and understanding," read the sign.

The ...

German banks preparing for wave of loan defaults in the face of major real estate crisis

February 23, 2024 -

During the fourth quarter of 2023, the bank raised its provisions for losses on loans, setting aside more than $230 million for the year to prepare for bad debts in light of the “persistent weakness of the real estate markets.”

The bank noted: “Despite these expenses, PBB remains profitable thanks to its financial strength — even in the greatest real estate crisis since the financial crisis.”

Their statement was referring to the 2008 financial crisis, when banks ...

Credit card and auto debt DELINQUENCIES are SOARING, especially among younger Americans

February 15, 2024 -

The Household Credit Report from the New York Fed's Center for Microeconomic Data found that aggregate household debt balances rose by $212 billion, a 1.2 percent rise from the previous quarter.

Credit card debt rose by $50 billion to a record-high of $1.13 trillion. Auto loan balances rose by $12 billion to $1.61 trillion, continuing the upward trajectory that began in the second quarter of 2020. (Related: Swelling DEBT crisis creating financial "death spiral" in America, ...

Worsenining commercial real estate market woes could spark a new banking crisis

February 21, 2024 -

This year, around $929 billion in outstanding commercial mortgages will mature, the Mortgage Bankers Association reports. This is a staggering amount that equates to 20 percent of the $4.7 trillion outstanding debt overall. But with higher interest rates taking a huge toll on property values in the sector and many businesses relying less on office buildings as remote and hybrid work become more popular, the stage is set for a disaster.

The National Bureau of Economic ...

Biden’s budget request for fiscal 2025 includes $12 billion for student loan forgiveness

a month ago -

The proposed $12 billion is set to go to a new federal program called Reducing the Costs of College Fund that would support federal strategies to improve college graduation rates and make costs more affordable for students. (Related: Biden DID NOT wipe away debt via student loan forgiveness program – he only redistributed it to other taxpayers.)

Along with funding ways the executive can lower college costs and improve graduation rates, the $12 billion will go toward increasing ...