Nothing in this world is certain, except death and taxes... and $62,000 debt.
According to December 2016 data provided to Credit.com by credit bureau Experian, 73% of consumers had outstanding debt when they were reported as dead.
Those consumers carried an average total balance of $61,554, including mortgage debt. Without home loans, the average balance was $12,875. Among the 73% of consumers who had debt when they died, about 68% had credit card balances.
Authored by Mike Krieger via Liberty Blitzkrieg blog,
I rarely write about gold these days, but the following from Reuters caught my attention.
BEIJING/SHANGHAI, March 7, China’s virtual gifting market, typically the domain of plugged-in young consumers celebrating special occasions or flirting, is luring major financial institutions keen to boost trade of another auspicious commodity: gold.
Earlier this morning we noted Ford's "CFO Let's Chat" meeting with analysts before which Ford announced weak 1Q adj. EPS guidance of 30c-35c, coming in well below analyst estimates of 47c, which they blamed on higher costs, lower volume & unfavorable exchange rates.
With the call now concluded, here are a couple of the key takeaways:
First, the bad...
Authored by Carey Wedler via TheAntiMedia.org,
Consumerism has long been a defining element of American society, but retail giants are now shutting down thousands of their locations amid a long-anticipated “retail apocalypse."
BI reports that over the next couple months, more than 3,500 stores are expected to close:
Authored by Roddy Boyd via The Southern Investigative Reporting Foundation,
Valeant Pharmaceuticals International, the corporate poster-child for price-gouging, tax-inversion and hedge-fund manager wealth destruction quietly severed all ties with J. Michael Pearson, its former chief executive officer and longtime guiding light, in January according to its annual proxy statement filed this morning.