Americans Are in Serious Trouble: Delinquencies Surge & Debt at Record High
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There is a reason they don't teach personal finance skills in high school. The system wants debt slaves to pay government taxes for life.
Absolutely!!!
There is only so much personal finance skills can do. If you fall ill or have an accident those skils can only take you so far, good luck
TRUMP gave Americans stimulus checks while Joe Biden is giving billions away to Ukraine and Israel , who will you be voting for in November ?
Choose wisely, who has your back ?
TRUMP the real ( Mvp ) ...most valuable President !
MAGA 2024
Exactly 👍
They dont teach it in poor countries yet they seem to know how to budget than Americans
When they say the economy is booming.. politicians are talking about their bank accounts !
And Ukraine they're raking in the cash lol
The government didn't tell anybody to go out and spend money they don't have!!! Hahahaha
@@mightguy2501Do you not understand that at this point people are going into debt for necessities, not luxury items and experiences.
Exactly!
Lol 81 million votes
This country is cooked
I am elderly, only on SS, fixed income. The food prices increase every single week like crazy! It's not going to get better.
Thank you for telling the truth.
Social security is tough as they don’t dare calculate inflation honestly. We have had 60% inflation if we used the 1982 government calculator. Each 1% rise now was calculated as 3%.
@@josephwurzer4366 vote for biden this fall, it will double again
@@JJ-fc2hoHave we tried getting food stamps? Simpl
It only gets better if you vote Republican
They are starving us to Death
Debt has become the new American dream
Or rather simply not having it. Fuck thriving.
Waiting patiently to acquire some leverage myswlf
Truth.
Its only possible due to banks being able to do fractional reserve banking. This is why bitcoin is so popular.
We need to send military aid in billions to lsrael 🇮🇱
They need our help and protection against women and little children 😅
Op Biden just agreed to send billions of aid to oUr aLlY in the rEgiOn
I just got a Job at a grocery store to help me out. It's sickening when I give folks their total amount.
Your right it is, however we are seeing more and more of it.
Half filled shopping carts over $150 in groceries
@@BeyondAIR15 I wish mine was half filled at $150... Not even close. I'm in the suburbs of the Bay Area California
The government/elites are killing us and soon there will only be rich and poor smh
Happy meals is usd6 bucks...
I feed 3 ppl in my country with that money.
For the first time in my adult life I can’t pay my bills. No mortgage, no credit cards, no car payment. None.
Many are quiet, keeping it on the low to uphold normalcy.
@@allermenchenaufderI suspect my parents are in the same boat. They’ve been acting strange these past 2 months. My father slipped and said he’s not comfortable at all. Not one to complain, and he’s a janitor in case someone inflates the meaning of the word “comfortable”.
No income either?
With none of those debts and you still can’t pay monthly bills?
No debt and still can’t pay bills ? You seriously need to evaluate your life choices pal
"If there are any loan sharks out there, let us know what you are seeing." I'll never recover from this 😂😂😂😂😂😂😂
😂😂
We’re not all in the same boat! We’re in the same storm. Some people are in yachts but I’m hanging on to drift wood.
Jack come back don't leave me Jack come back😂
@@tobiasriepermetagore_x-4717is Jack representing lower interest rates?
Very poetic. Loved your comment!
Wilson!!!
I'm not waving, I'm drowning!!
The government told me this was the strongest economy ever!
Yup - they're looking at the portfolios of the top 1%.
Gov. tells the truth LMAO
The government has always said one thing and his the truth.
The government says that the consumer economy is strong…. Which means people are spending money and apparently money they don’t have. If you actually knew the meaning of words then you would understand the government is telling all of us to our face the truth.
C’mon man it’s Bidenomics!
HOW AM I DOING??? WELL LET ME SEE IM SLEEPING IN MY CAR, AND INFLATION CONTINUES FOOD ETC.
It's the same here in Canada. The fun has really gone out of life when you can't have the odd outing, and have to spend everything on necessities! Love your channel, Brian!
Brian is one of the few finance TH-camrs giving out real facts
Yes, he is awesome!
Most of my money goes straight to rent and groceries with not much left over. Rinse and repeat month over month…I’m stuck
You explained it perfectly… “Rinse and repeat…”
Same here
There with you,I keep expecting to get ahead in 3-5 months but by that time I have extra bills keeping my head above water
You are not alone.
We are all stuck!
Abolish the federal reserve !
Yet restaurants are jam packed on Monday Tuesday and Wednesday nights.
I travel for work and sometimes there’s a 1/2 hour wait at Texas Roadhouse or nice Italian restaurants up and down the East Coast.
Crazy.
Credit cards.
Debt and also boomers who have money.
@@ameenahameed8874
Mainly retirees or an 18-24 crowd.
Places are jam packed on weekdays.
Makes no sense.
Nobody explains better than Brian
Straight plain English
Thanks Brian 👍🏻
Go Brian!
I stopped eating out now. Just on special occasions. I can't spend 50 dollars (paying for two) Every time I go out.
God help us all
I never eat out but recently did and for two people for vegan burgers and fries and an ice tea it was over $50.00. I told my husband I am NEVER doing that again. I feel violated.
I eat fast food,but ONLY the “special” item usually going to 2 or more places I can usually eat for under 4-5$
@@curtphillipps7830 i can only push my belongings cart to one of the FF places
The chicken sandwiches at popeyes are $5.99 each thats literally the cheapest item ive seen in fast food for the amount they give u@@curtphillipps7830
Rising delinquency and defaults while the dow hit a record 40k?! That level of irony is enough to cure an anemic individual.
🤣True, well said. I feel we're reliving 1928-1929, in so many ways.
@@rjparker2414the biggest difference from then to now is we have credit. In the Great Depression if you didn't have cash or trade you didn't eat.
@@3smoke During the Great Depression, little credit was extended - that's true - but that was largely in response to stock market crash/ bank failures, due to huge amounts of (eventually unpaid/ defaulted) credit which was extended in late 1920s. Lots of credit was given then, via loans/ installment payments/ "margin buying", which led many to speculate in the stock market/ buy furniture/ houses, etc - with very little down. Contributed to "house of cards".
I went the other way 5 years ago. Paid off all cc cards and car loans..all I do now is hoard money and metals
Remember, "if voting worked, they wouldn't let us do it."
United States of lsrael
God bless AlPAC lobby 😅
is that why red states actively gerrymander and disenfranchise voters?
the age demographics of voters are heavily in favor of older generations; and then everybody wonders why boomers keep getting voted into office.
Boomers are the only ones voting lmfao
Lol
Lol
They got us right where they want us...
Their debt becomes our debt as well sssoooo.... Just saying... We r totally screwed...
If everyone is in debt then no one is. It’s all good 👍🏽
No, we played the WAP harlot and are too dumb to figure out why there are hard men coming in.
Got moist?
You guys must not remember 2008. The game will keep going and you’ll lose.
Your big car was fast enough to follow them. 😎
As long this Administration keeps moving the goal posts the economy is Better than ever!
Administration? It’s the fed rising rates. And Biden didn’t appoint them, Trump did it. As soon as they lower rates, people’s debts will drop. But they’re political and won’t drop rates until after the election.
The best thing anyone can do is get themselves out of debt and stay out as best you can. Live as under your means as you can. Depending on officals or government isn't gonna get us anywhere, its up to us to help ourselves and our neighbors.
Car insurance and house insurance has been the killer for me, $400 total to $850
same here our home insurance doubled from $450 to $850. We used to be able to pay it all at once and now we have to make payments on it.
Our home insurance went up to 1500.00 this year! Outrageous.
Yupper my car is 586 with myself and 18yr old. House was in the 400s before I sold
Raise your deductible as high as you can that should lower it greatly. Im at 1k collision each deductible for 2 vehicles and cut my monthly in half. I wreck im screwed either way might as well save some cash for it
As an US immigrant from a developing country and grew up seeing poor people suffer from their lack of any sort of resources, I have to say even the current situation in US is far worse and maybe more, but there is plenty of bad things we can take before saying “we are doomed”. Comparing us to the world population, our current problem is just “less privileged”. Adjusting the expectations and enjoy what we still have, and I am grateful each day that I can have the opportunity to live in this country.
Thank you! It's about learning from your mistakes and keeping expectations in check. I live on 60% of takehome pay, just to make sure that I don't stress about money, and no keeping up with the Joneses.
Quit sucking up to the yanks..they are overly proud anyway and don't need encouraging . Think religion.....god-nuts, jesus-freaks, gun-nuts....there is much to be improved......
😂😂
Politicians are throwing us under the bus. Postponing things sending our money to other countries. I've never felt this sick of American politics. Until they change things will change
Hard truths, sinking ship together; indeed. Thanks for the always needed brutal truth, we would never hear this from D.C.
I've spent many years using Dave Ramsey debt snowball. I just made some big payoffs this year and my only debt is my house. Everything else is paid off.
🫵👍
I have never seen how bad things are ever. Brian, my family and I are law-abiding citizens that feel we have been betrayedby our government.
That’s because you have been since Biden
hedge funds betrayed all of us
Since the US went off Glod standard, that's why this is happening
We are tax mules.. to fund everything except our country
So you weren't alive for '08 lol
The public needs educated about the destruction of the currencies from Central Bank , Federal Reserve and that destruction effecting their purchasing power. It’s only going to worsen exponentially.
The $$$ is threw ,
Yep, and add more tariffs, coming soon - which will increase costs/ inflation more.
@@rjparker2414They’re meant to get people to stop buying those products.
I admit I had to visit pawn shop in last 30 days to get regular bills paid!
This high cost of living is out of control!
Everyone is getting priced out of everything
It's only going higher...
Tell me about it. Before you know manly men will be watching sissy men play girly games for money. 🙃
US debt increases devalue our currency. Keep sending money to Ukraine and Israel 😂
It's really not that hard. Just don't spend money.
When people give me grief because I don’t go on vacations etc… *THIS IS WHY!*
Staycations are really nice if you are able to do those
Thank you! There's no "mental health" if you're constantly worried about finances that vacay-expenditures cause! Stay-cation it is!
Enjoy your life bruh…
Lol same
@@jumpman366 enjoy your delinquencies and debt!
I feel so lucky and blessed that I’ve been debt free since 2018. So many sacrifices that lead up to being debt free it was very hard to do without things ,
Don't be lazy with your finances - shop car insurance, health insurance, cable and ISPs. Those things alone saved us over 11k a year. Canceled the pool guy, mow my own lawn, eat less and buy what is on sale, change your own oil. I never drink Land Shark beer, but it was Bogo this week so guess what I'm drinking 🤣
I feel fortunate that the only debt I have is a 3% mortgage on a house with 60% equity, but it didn't happen by mistake. Stay away from auto debt, cc debt, and pay your student loans off as fast as humanly possible. Life sure is a lot less stressful that way.
Same here our loan is like 3.6 and we hope to get the house paid off within five years
I tapped out and filed chapter 7. I was working 3 jobs trying to pay credit cards and keep up with rent. Now it’s all gone away and I only have rent.
Smart move !
Exactly. F*** the credit card vampires...... I have no sympathy for them exploiting people at 29 percent apr
Life goes on!!!!
Yep, just don't walk the same road and get yourself back into debt
do the Dave Ramsey plan
America is the land of opportunity, opportunity to borrow and in debt for life 😊
If interest rates don’t drop, the trend will continue. I see the panic in peoples faces everywhere I go.
I was born in the 1970’s. I remember that people did not have access to easy credit like today. It was a totally different standard of living, you didn’t see the big homes, multiple cars or eating out like today. I have a feeling those days are coming back soon.
Very true, even well into 80s, most people did not have visa or mc
They had their sears or wards card and gas cards
That’s because companies stopped giving raises and pushed the debt economy so people wouldn’t notice they weren’t making more, they were borrowing more
@@whisk3y6 China and Japan also bought large amounts of US debt thereby pushing interest rates down. That enabled US citizens access to cheap goods. The former combined with easy credit has led us to we are today.
It has to.
@@MaSa-bp5qeNo it doesn’t.
I work in Paris, and only today I've witnessed 3 fights break out in the street. People have become very agressive and you can add a migrants crisis..... France as we knew it is gone. The classy, lavish country that I used to love is no more. The whole West has been wiped out
Yeah because people stopped having kids. So now we have terrible debt and budget deficits and high immigration. No way out of this situation, it will only get worse
@@nicolasgirard2808 Remember when people warned that normalizing abortion, opening borders, and degrading the culture would have consequences, and they were called religious zealot agents of the patriarchy who hate women and brown people?
Liberals!!!
Well, it's easy to be "classy, lavish" when you go around the world stealing and bringing the loot back home, while leaving the victims in shambles.
Same in Germany. I love my hometown Düsseldorf but I can literally see the downfall in slow motion day by day. More and more of those muslim people, houses getting old and not renewed.
FJB
All of our current situations are looking bad.
"You will own nothing and be happy"🤔?
🚫, I think people are going to be 😡 as hell.
I don’t think so, nation has been subdued with alcohol, drugs and medication.
Kids today have no reference point. In the 70's people were sure the government was going to collapse with oil. In 89 it was another "great" recession and everyone was screwed. In 2008 it happened again and nobody ever thought they were going to own homes again and the end of the country was coming. Recessions come and go. it's how it's always been. Just make good choices though it, like you should have saved money, not takin out big auto loans, and running up credit card debt. And don't tell me people can't afford food. Americans own and buy so much shit compared to any other society, they can do without most it. And they eat too much to begin with so lessen the calories.
Everyone is going to be Naked and Afraid!
They mean that those who are unhaply are either meficated zombies or...no longer using oxygen.
Umm...pretty clear that they mean if you arent "happy" one way or another you just wont... Be.
Over 35 Trillion dollars of unsustainable debt is my concern
100
So far.
You forgot to mention they are Hiding free energy, they are Killing us for their greed
Don't concern yourself with things you cannot control.
Don't forget the $72 trillion plus in unfunded liabilities (SS & Medicare).
$120 trillion if you count Federal, veteran's, and military pensions.
Thank you Brian for another excellent update ! Going forward, imagine if unemployment starts accelerating and we see a deterioration of the labor market. The delinquencies you discussed are going to rise even more dramatically. What has always helped me is what my parents from the Depression always taught me: You do not spend what you do not have.
These graphs and charts don't mean anything to us. If MY credit card is delinquent that's all I need to know.
But Joe Biden said we have the best economy ever.
Trumps heritage.
Loosers always blame someone else@@hicrhodushicsalta6648
Too many of you Trumpers are incapable of having any conversation without mentioning Joe Biden.
It is for the filthy rich.
For those of us who have no credit cards, life is good.
Unfortunately, our government does not set a good example by running astronomical deficits. Hard to tell people to constrain yourself when you are spending like there's no tomorrow.
$1 Trillion / 100 days new debt.
Non regulated Immigration , not our war
Well said
As long as our greatest "ally" gets their money that's all that matters!!!?!?
We put em there. Our fault.
DEBT Delinquency Equals Borrowed Time. Time's up!
That's it.
wild times we're living in. So many people live to impress others and spend way above their means. Its going to destroy them.
With the cost of groceries right now, telling friends and family to watch their spending goes hand in hand with watching their waistline.
Yet, women keep getting fatter.
With their big plump & juicy fat asses!
That’s not true. Junk food is cheaper.
@@maribelramos1706 Junk food is not cheaper.
@@ToddTinleyjunk food is obviously cheaper than healthy organic food
Next you will see Bankruptcies skyrocket 🚀
Next means after the election.
It's already happening. My buddy who is in the bankruptcy space is telling me this is like their Super Bowl/Black Friday.
and bank closures
Just like 1928-1929. History is repeating itself, unfortunately.
I would feel sorry for my fellow Americans. But then I remember they called Ron Paul crazy for predicting everything right that we all now have to endure.
Hope those Romney and Obama votes were worth it.
😂😂
He LOST dude... get over it
Thank You Brian, we appreciate you, this regular update is so helpful & very informative✨🪅☀️
Expenses are rising faster than wages. Things are absolutely getting worse and worse. Debt is keeping us from reaching our goals!
It’s getting real bad out there folks
So why don’t you stop whining & use your legendary work ethic to go revitalize your home country.
Yet, many realtors want rates to drop so asset prices & inflation can surge higher while our wages stay flat. Make it make sense.
Scary times to be living paycheck to paycheck. Because employers can go under quickly and then no more pay checks or missed pay checks.
Take care people
Dollar devaluation
Time to move out of the cities and homestead.
@@thebunz7 Oh yes because all of the other country homesteaders want city folk to crowd up their aeras
Exactly why I don't have kids
Bro put newlines, this ain't markdown bro you goober
My renters live paycheck to paycheck, they have fallen behind on payments multiple times but I’ve been working with them.
SO SO happy paid literally all my debt off today
Just learn, and don't get back in debt again, just because you have "good credit".
Brian i think you said it best! All of us have to watch our spending habits.
That is something that we can control in these turbulent times!
Sounds like Sean Foo. Turbulent times.
Anyone else looking for a "van down by the river"?
I’m living in mine.
@JohnSmith-ti2kp I can’t even afford the van…
Man oh man may be even by the beach.
Thank you so much for your research and honesty, I wish more individuals like you would be vocal and honest.🙋🏻♂️
Glad Brian does not do click bait titles or thumbnails. Thank you for the reliable updates.❤
Services all up 5 to 10%. Products all up 5 to 10%. Government inflation? 3.4%. uh huh... Sure
Products up only 5-10?
I have seen some things double their prices tbh. I see at least 25% mark up on every single thing.
That's RATE of inflation. It doesn't mean that prices have gone down, or that prices aren't currently inflated.
@@twystedhumourbro theh don't even count food and energy in there cpi
All of us should stop paying Taxes. Collectively
You first😅
Let us know how it goes😅
Wesley Snipes tried that
half of america doesn't , hasn't helped much. Taxes these days are just the pretty magicians assistant who is the distraction as they create most of the money out of thin air.....It's Magic.
Why should we pay taxes when they can just print money?
Thank you for your compassion for all of us.
I'm taking your warning seriously because you have been correct so far. I better save and be ready.
You know what Brian, thank YOU for your support and YOU have a very nice day.
More money for Ukraine and Israel though
So you can sell more Coke overseas.
of course, for them free money
The situation will get worst. Due to the fact that food, gas, and housing are increasing so yes people will turn to credit cards trying to stay afloat.
Thank you for sharing the truth with so much wisdom and compassion🙏🏼
I'm honestly surprised that the delinquencies are not higher
It will get there. It hasn't got as bad as it's going to get yet, but it's coming.
Sobering reality check. This is why I am subbed to Brian's channel and just ignore the mainstream media. TGIF!!!! 👍
I own a nice tent and sleeping bag out right. I also found a perfectly good govy issued knife in my back. So, I'll be set once I save up enough for a fishing pole!
The student loan debt for most folks will literally never get paid.
People need to wake up, and i believe they are. I was thankful to consolidate CC debt and paid it all off in 2022. I WILL NOT open another CC again. Following the Ramsey baby steps are ACTUALLY working. 1/3 I've already paid off in under 2 yrs. You can do it.
Stop, you're not allowed to introduce logic.
@@DJSolistica😂
I did DRamsey also! So worth it
Did ramsey,too no debt
Same here. Learned my hard lesson decades ago.
Never again!
Thank you Brian for your smart insights. Awesome!🙌♥️
But, people are still spending money. Nothing is changing. So, it doesn't actually matter.
Thank you for the slow and clear explanation. 🙏
Who didn't see this coming??
Biden 😆
if someone shuts their eyes they don't see anything- the blind leading the blind for the majority
Thank you for reporting the facts.
Thank you so much, Brian! I love your videos!
Thanks to the POLITICAL UNI-PARTY! We are S@$@wed
Been saving and investing for 27 years... the American dream is alive and well. People cannot sacrifice to save their lives and have ZERO idea about money management. People need to learn the difference between NEEDS and WANTS.
okay boomer
@@hungmai2183 I am Gen X dummy 🤣😂
@@USViper27 years is all I needed to hear. Congratulations on being born early enough to capitalize on the 0% fed rate years and post 2008 housing market.
L take
@@Vertexp Ok victim 🤣😂
I’m thankful.. no cc debt, gave my car back to the bank, my student loan was written off. Rent is my biggest issue.
I thank God i have 0 debt. Got debt free oct 23. NEVER AGAIN WITH THE CARDS.
Thanks for always keeping it real- At least I can count on you for the truth!
I have zero CC debt, 820 Credit score… but I don’t own a home. I don’t have a car payment, my car is 14 years old, hoping to keep it going. For now , I’m concentrating my daughter’s full tuition bill to avoid her having loans when she graduates in two years. I plan to help her also pay down the federal loans. I want her to have a clean slate when she graduates. I’m 52 now, I hope I can heavily invest when she is done with school and have a shot at living a simple life at retirement. I can only hope….
Bad move
Excellent work Brian! 🎉
Whether you own or rent, housing is one's foundation, so when the cost of THAT is difficult to deal with, everything else ends up suffering collateral damage. 😨😨😨
Thank you again for the updates.
So glad for your honest and straightforward info.
The last thing people go delinquent on is your mortgage but if things dont change very soon foreclosure will follow
Alot of them are coming..
I don’t think so. People are holding on to their homes because rent is more expensive. Maybe if student debt is really bad that the government starts garnishing wages. But that’s about it.
@@ninjagirl226 rent has fallen. Mortgages are in federally funded moratoriums. Just more Biden vote buying.
Home Insurance and Auto Insurance increase is killing is too
I work in the service business. It has been so bad that I am seeing counterfeit money pretty often recently.
No surprise here. Household debt is one pay check away from bankruptcy.
Depends on household..
It's the lower socioeconomic classes that are taking the pain. Mortgages are healthy (richer) and CC are higher (poorer). Auto loans somewhere in btwn.
When something breaks it's gonna come from problems with those in the lower socioeconomic classes.
It'll effect all classes.. The economy is linked.. If people can't afford your products and services due to stagnant wages and inflation it'll effect the bottom line.
Wait until those young people just leave the country and all we have left is rich old people and zero labor because high rates chased them all away.
This country is ridiculous
All I think about is living in my car when I retire with my small social security check.
Debt is like crack to Americans.
It's because modern banking and lending have given lending steroids, so much that it needs more and more subscribers to stay afloat, and can't just rely on good borrowers to cover losses, because there aren't enough good borrowers after everything requiring some form of debt, to prove you are trustworthy.
Especially the Govt!
but the debt is killing even the responsible because the cost to live has gone up so much
My wife and I are 0 dollars in debt. Speak for yourself.
@Jrfeimst2 ....we my fellow friend. Most folks like to keep up with the Jones.