singular_me
17th May 2017, 10:05 AM
the Law of Pendulum/Rhythm is going to hit back in full speed again. When we learn our life lessons, the cosmic swing brings about all the good, and multiplied, but unfortunately, it wont be the case
http://t1.rbxcdn.com/7d25fe1bc2c8c7c5fe3f5ecf8dee70f4
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Total debt held by US household reached $12.73 trillion in the first quarter of 2017, finally surpassing its $12.68 trillion peak reached during the recession in 2008 according to the NY Fed's latest quarterly report on household debt. This marked a$479 billion increase from a year ago, and up $149 billion from Q4 2016 after 11 consecutive quarters of growth since the deleveraging period immediately following the Great Recession.
the quick and durty breakdown:
Total household indebtedness stood at $12.73 trillion as of March 31, 2017. This increase put overall household debt $50 billion above its previous peak set in the third quarter of 2008 and 14.1 percent above the trough set in the second quarter of 2013.
Mortgage balances, the largest component of household debt, reached $8.63 trillion as of March 31, a $147 billion uptick from the fourth quarter of 2016.
Balances on home equity lines of credit fell slightly in the first quarter, down $17 billion to $456 billion.
Non-housing debt saw mixed changes—an increase of $10 billion in auto loans and $34 billion in student loan balances, and a $15 billion drop in credit card balances.
Despite the new nominal all time high, on a relative basis, household debt remained below past levels in relation to the size of the overall U.S. economy, and in Q1 total debt was 66.9% of GDP, nearly 20% lower compared to 85.4% of GDP in Q3 of 2008.
Immediately following the 2009-2009 crisis, Americans reduced their debts to an unusual extent: a 12% decline from the peak in the third quarter of 2008 to the trough in the second quarter of 2013. New York Fed researchers, cited by the WSJ, described the drop as “an aberration from what had been a 63-year upward trend reflecting the depth, duration and aftermath of the Great Recession.”
“Almost nine years later, household debt has finally exceeded its 2008 peak but the debt and its borrowers look quite different today. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/total%20debt%20q1.jpg
http://www.zerohedge.com/news/2017-05-17/us-household-debt-surpasses-2008-high-hits-record-127-trillion
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90 Percent of At-Risk Student Loan Borrowers Not Signed Up for Affordable Repayment Plans
[Consumer Reports]
Ashlee Kieler
Consumer ReportsMay 16, 2017
Paying back tens of thousands of dollars in student loans can be difficult, and more than 1 million Americans defaulted on their federal student loans just last year. But why are nearly all of these same borrowers failing to take advantage of programs to help them avoid defaulting again?
According to a new analysis [PDF] from the Consumer Financial Protection Bureau, 9-in-10 borrowers who are exiting default on their student loans are not enrolling in federal repayment programs that base the amount they pay each month on their earnings.
The Department of Education estimates that more than eight million federal student loan borrowers have entered default — described as failing to make payment on their debts for at least 12 months.
According to the report, student loan servicers — who are responsible for informing borrowers about affordable repayment options — are not holding up their end of the bargain when it comes to assisting debtors in avoiding a second default of their loans..................
https://www.yahoo.com/news/90-percent-risk-student-loan-224053084.html
http://t1.rbxcdn.com/7d25fe1bc2c8c7c5fe3f5ecf8dee70f4
============================
Total debt held by US household reached $12.73 trillion in the first quarter of 2017, finally surpassing its $12.68 trillion peak reached during the recession in 2008 according to the NY Fed's latest quarterly report on household debt. This marked a$479 billion increase from a year ago, and up $149 billion from Q4 2016 after 11 consecutive quarters of growth since the deleveraging period immediately following the Great Recession.
the quick and durty breakdown:
Total household indebtedness stood at $12.73 trillion as of March 31, 2017. This increase put overall household debt $50 billion above its previous peak set in the third quarter of 2008 and 14.1 percent above the trough set in the second quarter of 2013.
Mortgage balances, the largest component of household debt, reached $8.63 trillion as of March 31, a $147 billion uptick from the fourth quarter of 2016.
Balances on home equity lines of credit fell slightly in the first quarter, down $17 billion to $456 billion.
Non-housing debt saw mixed changes—an increase of $10 billion in auto loans and $34 billion in student loan balances, and a $15 billion drop in credit card balances.
Despite the new nominal all time high, on a relative basis, household debt remained below past levels in relation to the size of the overall U.S. economy, and in Q1 total debt was 66.9% of GDP, nearly 20% lower compared to 85.4% of GDP in Q3 of 2008.
Immediately following the 2009-2009 crisis, Americans reduced their debts to an unusual extent: a 12% decline from the peak in the third quarter of 2008 to the trough in the second quarter of 2013. New York Fed researchers, cited by the WSJ, described the drop as “an aberration from what had been a 63-year upward trend reflecting the depth, duration and aftermath of the Great Recession.”
“Almost nine years later, household debt has finally exceeded its 2008 peak but the debt and its borrowers look quite different today. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/total%20debt%20q1.jpg
http://www.zerohedge.com/news/2017-05-17/us-household-debt-surpasses-2008-high-hits-record-127-trillion
\
90 Percent of At-Risk Student Loan Borrowers Not Signed Up for Affordable Repayment Plans
[Consumer Reports]
Ashlee Kieler
Consumer ReportsMay 16, 2017
Paying back tens of thousands of dollars in student loans can be difficult, and more than 1 million Americans defaulted on their federal student loans just last year. But why are nearly all of these same borrowers failing to take advantage of programs to help them avoid defaulting again?
According to a new analysis [PDF] from the Consumer Financial Protection Bureau, 9-in-10 borrowers who are exiting default on their student loans are not enrolling in federal repayment programs that base the amount they pay each month on their earnings.
The Department of Education estimates that more than eight million federal student loan borrowers have entered default — described as failing to make payment on their debts for at least 12 months.
According to the report, student loan servicers — who are responsible for informing borrowers about affordable repayment options — are not holding up their end of the bargain when it comes to assisting debtors in avoiding a second default of their loans..................
https://www.yahoo.com/news/90-percent-risk-student-loan-224053084.html