American consumers are increasingly relying on debt to pay for many of their purchases—and it could spell trouble for our economy. Several experts, including Chicago Federal Reserve Bank president Austan Goolsbee and billionaire investor Jeffrey Gundlach, have expressed concerns that growing consumer debt may be a sign of future financial distress.
“If the delinquency rate of consumer loans starts rising, that is often a leading indicator for ‘things are about to get worse.’”
—Chicago Federal Reserve President Austan Goolsbee
What factors have contributed to the rise in consumer debt, and how can we protect our hard-earned savings from the potential effects on financial markets?
Click on the video link below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- Fox Business: “Bond King Jeffrey Gundlach warns over U.S. economy as Americans’ debt piles up: ‘concerning’”
- CNN: “Americans are falling behind on their payments”
- CNBC: “Gold, silver, and copper rally has just taken a breather—new highs are not that far off, experts say”
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Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
