Consumer debt is the amount of money owed by individuals or households for goods or services purchased on credit.
A debt bomb can also occur if consumer spending is based heavily on debt. For example, if consumers incur large amounts of credit card debt, individual debt holders could default en masse and create trouble for creditors. In the U.S., consumer debt outstanding as a percentage of GDP is 7...
Consumer credit is a type of loan extended to individuals for personal or household use, enabling them to purchase goods and services without immediate full payment.
Bernie Madoff's scam is one of the most famous examples of a Ponzi scheme, which takes advantage of consumer suspicions and fears about the banking industry. What Is the Agency Problem? The agency problem is a conflict of interest that occurs when agents don't fully represent the best intere...
Our state not only put the nation on wheels, but well-paying jobs in the auto industry helped create the broad middle-class prosperity that made our country the envy of the world. Today, both the American auto industry and the middle class are facing destructive challenges. And again the ...
Banks and financial service providersleverage consumer intelligence to detect possible fraud or other suspicious activities. They look forpatternsin the data to spot risks of bad debt, unauthorized purchases, or identity theft. This not only prevents financial loss for the organization, but also gives...
Keynes advocateddeficit spendingduring the contractionary phase of the business cycle. In recent years, politicians have used it even during the expansionary phase. President Bush's deficit spending in 2006 and 2007 increased the debt.6It also helped create a boom that led to the 2007 financial ...
Understand the meaning of a promissory note, how it’s used, and its key components. Find out when you need a promissory note and how to create one.
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Consumer Confidence Index | Definition & Examples Ch 11.Fiscal Policy in Economics Ch 12.Budgets & National Debt Ch 13.Understanding Monetary Policy Ch 14.Fundamentals of Money Ch 15.Understanding the Federal Reserve... Ch 16.Supply-Side Policy & Policy... ...