Americans now owe roughly 1.3 trillion dollars in credit card debt, and the average household carrying balances owes more than $11,000. People are no longer using credit cards for luxury spending. They are using them to survive.
A recent survey found that 42% of Americans believe they will carry credit card debt until they die. Think about what that means psychologically. Nearly half the country no longer sees debt as temporary. They see it as permanent. That is not a sign of prosperity. That is a sign of systemic economic decline.
This is exactly what happens when inflation outpaces wages for years while governments continue pretending the economy is healthy because stock indexes remain elevated. The average person does not live off the S&P 500. They live off monthly cash flow, and that cash flow has been destroyed by rising costs across every category, housing, food, insurance, transportation, and energy.
What is especially dangerous is that interest rates on many credit cards are now above 20%, with some consumers paying closer to 25–30% once penalties and fees are included. At those levels, debt compounds faster than many people can realistically pay it down. The system effectively traps consumers into permanent repayment cycles where they are covering interest rather than principal.
I have warned many times that once society shifts from productive borrowing into survival borrowing, the economy enters a completely different phase. Borrowing to build a business or buy productive assets creates future growth. Borrowing to buy groceries or pay utility bills simply delays the collapse temporarily while making the eventual outcome worse.
The broader numbers are staggering. Americans are simultaneously carrying roughly 1.7 trillion dollars in auto debt, over 12 trillion in mortgage debt, and trillions more in student loans and personal borrowing. Household debt across the board has reached historic highs.
This is why the middle class is disappearing. People are working simply to service debt obligations while the purchasing power of their income continues to decline. That creates enormous social frustration because the official narrative claims unemployment is low and the economy is expanding, yet people feel poorer every single year. Both things can technically exist at the same time if inflation and debt servicing consume real disposable income.
We are already seeing early signs of that stress emerge. Delinquencies on credit cards and auto loans have been rising sharply, especially among younger borrowers and lower-income households. Once defaults begin climbing broadly, banks tighten lending standards, which then reduces liquidity throughout the consumer economy.
The irony is that Washington itself is operating exactly the same way as the average overleveraged consumer. The federal government now runs trillion-dollar deficits routinely while interest payments on the national debt are approaching levels historically associated with sovereign debt crises. The population simply mirrors the behavior of the state.
This is why confidence becomes the key issue going forward. Once consumers lose faith in their financial future, spending patterns change. People stop planning long-term. They delay families, home purchases, investment, and entrepreneurship because survival overtakes expansion. That transition slowly erodes the entire economic structure from underneath.
Credit card debt at 1.3 trillion dollars is not just a statistic. It is evidence that millions of people can no longer maintain living standards through income alone.
Categories:USA Current Events
European governments are now hiding behind the word “humanitarian” while quietly assisting in the demographic reconstruction of a country being consumed by war. Switzerland has joined the international coalition for the return of Ukrainian children, and politicians are presenting this as some noble moral mission detached from politics. That is nonsense. The timing exposes exactly what this is really about. Ukraine is running out of people.
Volodymyr Zelensky has turned Ukraine into a machine that now depends on trapping, pressuring, and reclaiming human beings to sustain the war. Millions fled after the conflict began, and Kyiv quickly responded by banning most military-age men from leaving the country. Men between 18 and 60 were effectively turned into state property overnight. Then the government escalated further by restricting passport renewals and consular services abroad, targeting Ukrainian men who escaped the draft.
The Western media continues portraying Zelensky as some symbol of democracy while ignoring the authoritarian reality unfolding behind the curtain. Videos have circulated for months showing Ukrainian conscription officers grabbing men off the streets, dragging them into vans, stopping them in gyms, restaurants, shopping malls, and subway stations. Families live in fear of draft notices while frontline troops openly complain about exhaustion, horrific casualties, and endless rotations into death zones.
Now Europe suddenly wants to “repatriate children” while Zelensky repeatedly signals that every person with Ukrainian blood belongs back in service to the state. Zelensky stated clearly that ALL Ukrainians must return to the motherland to die in his war.
“As regards young people who are currently not in Ukraine, but abroad. First of all, there are different groups of young people. I agree with you regarding those of conscription age who left Ukraine. They left temporarily but ended up staying away for years,” Zelensky stated, oblivious to the reason so many fled their homes. “And many of them left in breach of Ukrainian law. The relevant authorities in both countries should address this issue.
Most would renounce their citizenship if possible, but here’s the catch: Zelensky has made it ILLEGAL to renounce citizenship during wartime. A person must already have another citizenship approved or guaranteed before they can give it up, and the process requires presidential approval and can take up to a year or more. The unelected president will not permit anyone to renounce their citizenship, but the press frames it as widespread patriotism as only a handful have managed to escape Zelensky’s claws.
Ukraine’s demographic collapse is catastrophic. Millions of women and children fled to Europe. Hundreds of thousands of military-age men escaped before the borders tightened completely. Birth rates were already collapsing before the war began, and now entire regions have been emptied out. Ukraine is not just losing soldiers. It is losing its future population.
Wars eventually stop being about territory and become wars over demographics themselves. Ukraine cannot sustain endless erosion indefinitely because the country is bleeding population faster than it can replace it. Infrastructure can eventually be rebuilt. Human beings cannot.
This is why Zelensky’s government has become increasingly obsessed with repatriation, citizenship restrictions, and controlling Ukrainians abroad. Kyiv understands perfectly well that if too many refugees permanently integrate into Europe, Ukraine may never recover economically or militarily. The country risks becoming a hollow shell dependent entirely on foreign aid and military support.
At the same time, European governments are exposing their own hypocrisy completely. These are the same politicians who lecture the world endlessly about human rights and democracy while now openly discussing mechanisms to return Ukrainian men to a war zone. Poland and Lithuania have already signaled support for helping Kyiv reclaim draft-eligible citizens.
The truth is becoming uglier by the day. Ukraine’s government needs more bodies. Casualties continue mounting. Recruitment is increasingly unpopular. Frontline troops are exhausted. The average age of Ukrainian soldiers has steadily risen because younger men are either dead, injured, hiding, or gone.
The entire narrative surrounding this war has become deeply dishonest. Western leaders keep pretending Ukraine is defending democracy while supporting policies that trap men inside the country, restrict citizenship rights, pressure refugees, and increasingly militarize society at every level. That is not what free societies look like.
Zelensky keeps demanding more money, more missiles, more sanctions, more escalation, and now implicitly more people. Every solution proposed by Kyiv requires sacrificing another generation of Ukrainians while European elites sit safely behind podiums speaking about “values.”
The horrifying reality is that this war is consuming Ukraine’s population itself. The country is being hollowed out economically, demographically, and socially while politicians continue pretending victory is just one more weapons package away.
The decision by Taiwan to deploy U.S.-supplied HIMARS missile systems to islands sitting directly off the coast of China is one of the most dangerous escalations we have seen in the region so far. These launch systems are reportedly being positioned less than 30 miles from the Chinese mainland in an effort to create what officials are calling a defensive “dead zone.”
The HIMARS systems are capable of launching ATACMS tactical missiles with ranges approaching 300 kilometers, meaning they could strike military bases, logistics hubs, naval staging areas, and infrastructure deep along China’s southeastern coast within minutes. Some reports estimate missiles launched from islands such as Dongyin could reach PLA targets in roughly seven minutes.
I have warned repeatedly that war with China is becoming one of the primary geopolitical concerns moving into this period ahead. The economic relationship between the United States and China has already deteriorated into technological warfare, sanctions, tariffs, and military positioning across the Pacific. Taiwan is becoming the focal point where all of those tensions converge.
The numbers alone show how rapidly this situation is escalating. Taiwan has already acquired 11 HIMARS launchers from the United States, with dozens more expected as part of broader military packages worth billions of dollars. Additional sales include hundreds of ATACMS missiles and guided rocket systems. At the same time, the U.S. continues pressuring Taiwan to increase military spending dramatically, with discussions around supplementary defense budgets exceeding 40 billion dollars.
What many fail to understand is that China views Taiwan not as a distant geopolitical issue, but as a core national sovereignty question. Every new weapons deployment near the mainland strengthens the nationalist position inside China and makes compromise politically impossible. Instead of reducing the risk of war, these deployments increase domestic pressure on Beijing to respond aggressively.
The United States believes creating heavily armed island chains throughout the Pacific will deter China militarily. But from Beijing’s perspective, this looks like encirclement. Historically, great powers do not tolerate hostile missile systems positioned directly off their coastline indefinitely. The United States itself nearly went to nuclear war during the Cuban Missile Crisis over Soviet missiles positioned near Florida. Yet Washington now appears shocked that China reacts aggressively to missile deployments near its own territory.
China has already been conducting increasingly large military exercises around Taiwan involving warships, fighter aircraft, drones, and simulated blockades. PLA aircraft now enter Taiwan’s air defense zone almost continuously, and Chinese military drills have repeatedly simulated strikes on infrastructure and energy facilities.
At the same time, China is rapidly advancing military technology specifically geared toward a Taiwan conflict, including AI-powered drone swarms, amphibious assault preparation, and missile systems designed to overwhelm island defenses.
Meanwhile, the economic consequences are barely being discussed. Taiwan sits at the center of global semiconductor production and critical shipping routes. Any military conflict in the Taiwan Strait would send shockwaves through global supply chains far beyond anything seen during previous disruptions. The world economy is already under pressure from debt, inflation, and energy instability. A Pacific conflict involving China would magnify all of those problems simultaneously.
The more the United States militarizes Taiwan, the more China will feel compelled to respond militarily itself. Once both sides lock into that trajectory, reversing course becomes extremely difficult. History shows that major conflicts are often not started intentionally. They emerge gradually through escalation, positioning, and miscalculation until neither side can politically afford to back down.
QUESTION: Mr. Armstrong, your computer forecast the collapse of Russia. You even forecast a war would begin in Ukraine. Your computer did the same in Romania and Syria. You even forecast that this war with Iran would not be quick but drawn out. The word is you know the Middle East because you have been there for decades and you managed money for the counter-revolutionary movement in Iran. You have said you were called in by the central bank of Lebanon. They say you attended OPEC meetings and managed money for Kaddafi. In London I was told you taught the Arabs how to trade gold futures. Is any of that True? If so, why does major media avoid you? I listened to the 60 Mimutes interview of Netanyahu and they staid nobody has ever forecast these wars. They glassed over his claims that Iran was developing a nuke and could strike the US, but admitted they did not have a missile to go 6,000 miles. The one they did shoot at the US base 2,000 away was shot down.
If this is all true, then nobody is more qualified than you on the Middle East. You said in a recent interview you had offices in Dubai. Very strange how mainstream media does backflips to avoid you and your computer. What do you see for peace in the Middle East?
FB
ANSWER: Yes, the computer has done fantastic job. It was the Russian collapse that cause all the Trouble, That’s when the CIA wanted the model. I offered to run any study they wanted, but they said they had to own it. That’s when I learned we do not live in a free society. You say no to the government, and they could care less about the constitution.
They held me in civil contempt without any charges or even an order. Supposedly, you are supposed to have a clear directive do this you you go to jail. The judge did whatever the government wanted and publicly was shocked when he found out they never produce such an order. Legally, he should have released me, but did not. I was NEVER given any order to make sure I could never comply. They media never reported the truth, especially Bloomberg.
The when the bank pled guilty and was given a deal return all the money they stol and nobody would go to jail, so there were no remaining victims. In the end, I never had any restitution. But then the government outright lied, violated my civil rights openly in front of the world and the press remained silent. They they claimed there was another decades before and they kept me in contempt for another 5 years admitting there was no description of such a crime, but keep me in jail with not even a Theory.
I believe mainstream media was part of the scame and kept up the fake news to cover up their failed attempt to pull off a regime change in Russia, which is why I believe Hillary concocted the whole RussiaGate fake news.
As far as the other issues, yes I advised the counter-revolutionary movement in Iran for they were trading futures to buy arms to overthrow the Ayatollah back then. Yes, it was the central bank of Lebanon that asks us to make a model on their currency and that opened the door where I came to discover how the computer was forecasting war. As far as attended OPEC meetings, that was being put on speakerbox not actually attending. Yes I did manage money for Kaddafi, twice, but unknowingly.
Well you must be talking to people who have been around for a long time in London. Yes, I taught the Arabs how to trade gold futures to make interest when they could not earn interest religiously. I gave the liquidity to get the gold futures off the ground. We were buying gold and then selling it forward, which in reality is the interest for carrying the trade. But it was not outright interest so religiously it worked. I restructured Middle East banks in similar ways.
One of my more creative endeavors was the furst natural hedge I had to manufacture. I was called in by a major Middle East Bank who hired a top German banker to run the bank. The board was religious and said that they should open a branch in Turkey. The Turkish lira was in a steep bear market and they had to put up $10 million in escrow for one year until the license would be grated. They would have lost 90% of the money. The Turkish lira was not tradable in cash or futures. That’s why they called me in. I had to create a synthetic hedge to map the expected decline of the lira. I created a basket of other instrument to creat a synthetic nature hedge – the first ever such instrument created.
I did ny first billion deal in 1982. As my client put it, we were dealing in billions when Goldman was still in diapers. That’s also when the bankers were always afraid of me.
Yes, I roo listened to the 60 Mimutes interview of Netanyahu. They indeed glaced over his claims that Iran was a threat to the USA.
The computer is showing that we may have a serious change in the politics of Iran come Jan/Feb 2027. Nonetheless, we still see that something will shift going into June after Trump gets back from China.
Yes the media does backflips because they cannot report the truth about what took place in my case and the failed regime change without also admitted that they dropped the ball intentionally or were incompetent. That is why it may seem very strange how mainstream avoids our computer which is the only AI system in the world with nearly a 50 year track record.
As far as peace in the Middle East or even Ukraine, in both cases you are looking at deep seated hatreds on both sides. That is not negotiable with any permanent outcome..
QUESTION: Marty, I read on Zero Hedge that Trump was floating the idea of Venezuela becoming the 51st State. When you were here in Canada, you said the US would never let Alberta become the 51st State. Is this just more hype about Venezuela?
GS
ANSWER: Yes, it’s just words in the wind. The real story behind the curtain is that allowing Alberta to become the 51st State would mean the Democrats would insist that Puerto Rico and Guam become states. No matter who we consider, a state gets two senators plus representatives in the House, depending on population. This changes the political balance, and it will be a shit-fight to say the least.
The U.S. Constitution doesn’t require a national vote of all existing states to admit a new one, only under a specific set of “other states” those whose territory would be directly affected by the creation of the new state.
So there is far more at issue than just oil or resources. Redistricting just impact the House. A 51st State impacts the Senate.
There was much fake news about the tech and finance leaders traveling with President Trump to China. Moments ago, President Trump corrects the record:
TRUTH SOCIAL – “CNBC incorrectly reported that the Great Jensen Huang, of Nvidia, was not invited to the incredible gathering of the World’s Greatest Businessmen/women proudly going to China. In actuality, Jensen is currently on Air Force One and, unless I ask him to leave, which is highly unlikely, CNBC’s reporting is incorrect or, as they say in politics, FAKE NEWS!
It is an Honor to have Jensen, Elon, Tim Apple, Larry Fink, Stephen Schwarzmann, Kelly Ortberg (Boeing), Brian Sikes (Cargill), Jane Fraser (Citi), Larry Culp (GE Aerospace), David Solomon (Goldman Sachs), Sanjay Mehrotra (Micron), Cristiano Amon (Qualcomm), and many others journeying to the Great Country of China where I will be asking President Xi, a Leader of extraordinary distinction, to “open up” China so that these brilliant people can work their magic, and help bring the People’s Republic to an even higher level! In fact, I promise, that when we are together, which will be in a matter of hours, I will make that my very first request. I have never seen or heard of any idea that would be more beneficial to our incredible Countries!”
“Tim Apple” always cracks me up. lol
As previously noted and discussed by USTR Jamieson Greer, since the original trip to Beijing was announced several months ago, it was very easy to identify this visit was not a customary ‘state visit’ in the formal sense of the term. Instead, this trip was always planned as a trade, finance and economic business trip specifically to engage Chairman Xi with a financial and investment focus.
British monarch King Charles III is scheduled to deliver the annual ‘king’s speech’ to the U.K Parliament on Wednesday, and that was the essential defense position of those who are trying to maintain embattled Prime Minister Keir Starmer in power as the Labour Party leader.
The king’s speech is an address to Parliament to outline his legislative priorities and the anticipated support from the political assembly. Without a solid Prime Minister in place, it would seem like an address to a leaderless body. However, once the speech is finished, the struggles for Prime Minister Starmer are soon to resurface.
British pundit Neil Oliver asked the most alarming question on GB News earlier this evening when he pondered who exactly does Keir Starmer work for? Noting very similar issues in both France and Germany with Emanuel Macron and Chancellor Freidrich Merz respectively, Oliver outlines how many EU leaders are pushing national policies while seemingly disconnected from the citizens of their countries. WATCH:
Oliver senses something bigger is afoot with the seismic shift in British electoral politics. The nation is demanding a change in direction away from leftist policies. When President Trump was asked about the dynamic earlier today, he said Keir Starmer needs to decide whether to leave or try and stay in power. Dropping pretenses and speaking pragmatically, President Trump further pointed to the suicidal energy policies that are driving up the costs of living for all European citizens.
Via Daily Mail – […] On a dramatic day at Westminster, four Labour ministers resigned, saying they no longer had confidence in Sir Keir. The number of Labour MPs calling for him to go rose to 90, and Home Secretary Shabana Mahmood was forced to deny she is on the brink of quitting after telling the PM to set out a timetable for his departure. (more)
The unfortunate thing for the British voting population is that while they have completely rejected the Labour party in regional elections, the government itself is Labour party leadership. If/when Prime Minister Starmer resigns, it is more than likely his replacement will be even further left than the position the voters already rejected.
VIA UK Politico – […] Deputy Prime Minister David Lammy was urging colleagues Tuesday night to “step back, take a breath, remember that we have the king’s speech.” No wonder. People familiar with the matter told POLITICO that the king’s team had made clear to Starmer’s officials the importance of protecting Charles from any impression that he is being used for political ends in the Labour leadership fight.
Charles, in words written by Starmer’s government, is due to announce more than 35 planned or draft bills including an immigration crackdown, health reform, digital ID, closer EU alignment and energy infrastructure. That whole agenda could all soon be junked by a different prime minister.
But no one quite knows if the full-blown leadership crisis will resume within hours or lie dormant for much longer.
The 90-plus MPs who have called for Starmer’s exit will never be able to un-say their statements. Starmer said the British people “expect the government to get on with the job of changing our country for the better” — but his own MPs increasingly believe that simply isn’t possible any longer.
One MP elected in 2024 said: “The trouble is even if he struggles on, we’re screwed … Keir basically knows that more than 90 people in his party think he’s doing a shit job.” (read more)
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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