In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters
In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters One month ago, when multiple discount retailers (here and here) were lamenting the sudden collapse in US consumer purchasing power, we highlighted the reason this unexpected hit to US consumption: as the US personal savings rate had collapsed, the […]
In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters
In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters One month ago, when multiple discount retailers (here and here) were lamenting the sudden collapse in US consumer purchasing power, we highlighted the reason this unexpected hit to US consumption: as the US personal savings rate had collapsed, the […]
In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters
In “Last Hurrah”, Credit Card Debt Explodes Higher Despite Record High APRs As Savings Rate Craters One month ago, when multiple discount retailers (here and here) were lamenting the sudden collapse in US consumer purchasing power, we highlighted the reason this unexpected hit to US consumption: as the US personal savings rate had collapsed, the […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]
BRICS Stands Ground: Payment System Plans Advance Despite US Warnings
Despite threats from US President-elect Donald Trump to impose 100% import duties, BRICS nations are continuing their work on a new settlement system. Russian Deputy Foreign Minister Alexander Pankin clarified that the project is not about creating a new currency, but rather developing an alternative payment mechanism. This move signifies BRICS’ determination to reduce reliance […]