Tuesday, November 21, 2017

Some alarming financial data from the Fed

Tuesday, the Federal Reserve released charge-off and delinquency rates reported by member banks for the third quarter. The good news is that mortgage defaults continue to decline. However credit card delinquency and charge off rates (seasonally adjusted) are at their highest levels in four years. Furthermore, four years ago the rates were in decline. These rates have been steadily rising for 2½ years.

As we head into the Christmas season, this suggests (particularly in an environment of rising rates) that Americans have less purchasing power which could create an economic downdraft.

What does this have to do with queers? Nothing!

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