Government assistance in the pandemic has improved credit scores. Credit scores range from 300 to 850, with higher scores indicating that a borrower is more likely to make payments on time. Credit score developer Fair Isaac Corporation (FICO) reports that the average credit score in the United States is at an all-time high of 711. […]
Category Archives: Debt-Based Economy
The Monster
A month ago, Michael Hudson sent me an excerpt from his new book, The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America — and Spawned a Global Crisis. I enjoyed it so much that I requested a review copy. I read it quickly, then mulled over it between engagements to […]
Also posted in Books, Financial Crises
Tagged Financially Stupid People, The Monster
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Most People Aren’t Rich
Ads show us opulent lives. The entertainment industry makes it seem like everybody lives in a mansion and spends their time deciding whether to get the new Maybach model or settle for the new Benz. All shopping happens on Rodeo Drive or Fifth Avenue. All restaurants involve reservations. All happiness comes from consumption. Then, everybody’s […]
Sovereign Debt Risk Not News to Kelly Letter Subscribers
We’ve been watching this storm brew for many months, as I’ll share below. I’m currently preparing a look at where the market is now, what opportunities lie in the sell-off, and other such pertinent considerations as the global financial absurdity continues. If you’d like to join us to receive my next note on Sunday morning, […]
Special Report This Weekend
As the Eurozone crisis via the Greek tragedy unfolds, most of the risks that I’ve examined in The Kelly Letter over the past half-year or so have come to the fore. We’ve been concerned about sovereign debt implosion that would start somewhere relatively insignificant on the world stage, but quickly blossom into a major-economy-threatening failure. […]
Posted in Debt-Based Economy
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