Credit card delinquencies. along with defaults on other consumer debt, is rising dramatically as Americans struggle to pay bills, all despite an allegedly booming economy. The credit crunch could presage a wider economic crisis as prices rise and workers’ wages do not keep pace.
Jimmy is joined by financial analyst Carol Roth and Colonial Metals CEO Paul Stone to discuss the threat posed by members of the public as well as the government relying on borrowing that creates an illusion of growth.
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Colonial Metals on social media: @colonialmetalsgroup
Carol Roth on Twitter:
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