U.S. Consumer Credit Showing Signs of Weakness

Many consumers throughout the U.S. are starting to default on their auto loans, according to Bloomberg. In the past year, more people went into default as they struggle with rising interest rates on credit cards and other revolving accounts. Some analysts speculate that the increase in defaults on auto loans is a direct result of lenders loosening their credit standards. Recent reports by Capital One and Discover show that consumers are showing signs of weakness in their ability to pay off their credit card debt. Both companies reported a significant rise in their charge-off rates, with Capital One reporting its largest increase in six years.

 

Capital One’s credit lending model focuses on sub-prime borrowers, which are borrowers with less the prime credit scores. The model puts the company squarely in the face of massive loan losses since sub-prime borrowers are the likeliest category of borrowers to miss monthly payments on a regular basis. Discover also reported a drop in the reliability of its credit-card debt. Discover’s net charge-off rates rose to levels not seen since 2014. Many analysts fear the growing default ratios point to a new risk in consumer credit. Although mortgage debt has declined in recent years, consumer debt now stands at a staggering 20 percent of the country’s yearly economic output. Student loans and auto loans represent the biggest portion of the annual economic output.

 

 

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Credit-Default Rates Hit Their Highest Mark in 4 Years

The default rate on credit cards hit a 4-year high, according to data from Experian and the S&P Dow Jones Indices. The default rates also rose for a fifth consecutive month as interest rates continue to spike in the first quarter of 2017. Credit-card holders are having a difficult time servicing their debt, especially on higher interest credit cards, reports Experian.

 

The chairman of the Index Committee at the Dow Jones and S&P 500 stated that the consumer credit debt service ratio, which is the ratio of disposable income needed to pay credit debt, rose to 5.58 percent. However, the chairman noted that the rise is still less than the 6.01 percent ratio the nation saw just before the Great Recession. The chairman also expects the debt service ratio to hover around 6 percent through 2017-2018 as a result of higher interest rates.

 

New York had the highest default rate among the five largest cities in the United States. The default rate rose 15 basis points to 1.09 percent, while Los Angeles, Miami and Dallas all saw decreases in the ratio from the previous month. According to Experian, the southern region of the U.S. has the highest levels of defaults, including Kentucky, Alabama, Tennessee and Mississippi. On a lighter note, auto loan defaults in the U.S. fell five points to 1 percent, which is good news since this $1.2 trillion segment of the market has seen default rates skyrocket as of late.

 

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How to Utilize Nine9 to Their Fullest Capacity

So you have now become a member of Nine9 and you want to learn how to use the site to its fullest potential? It’s tough sometimes when you get an agent to actually land roles. You need to be prepared for the opportunity at hand. You need to know how to handle the situations in auditions so that you can actually land roles. Nine9 works together throughout their talent roster and their instructors to help better prepare those to get on the right track so they can succeed. Nine9 gives you great chances to make it in this business, but you can use these insider tips to get the most out of the site.

The first thing to remember is to strive towards creating a successful headshot and resume with their instructors. Anything and everything that you ever do in your entire career you should write down. It’s important to have a good amount of things in your resume in order to really move forward, but Nine9 will help you land those credits so your resume looks good. There are two things to do: do as much extra work as possible and also gain a lot of training so you can put the in your resume and more information click here.

Nine9 has great acting classes and courses that you need to consider taking because they can help you accomplish so much more in this industry when you take all of that seriously. Nine9 is well-known for all kinds of reasons because of how well they provide their talent with classes that help them move forward in this industry. Nine9 is very famous and popular for how well they help guide their talent, so be sure to use their team of experts to the best of your advantage. Take the classes, ask questions, and really make take advantage.

Other Reference: https://nine9.com/featured-talent

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Card Defaults Surge at Capital One and Discover

Discover and Capital One, two of the nation’s biggest credit-card issuers, saw some of the largest write-offs in their lending divisions in nearly six years. Shares of Capital One fell almost 2.9 percent on the news the company’s charge-off rate to 5.02 percent, the highest rate for the company in six years. The company also reported that provisions for losses in its credit-card division rose to $1.7 billion in the first quarter of 2017, a jump of nearly 29 percent.

 

Discover shares fell 3.1 percent to $65.23 on news the company’s charge-off rate rose 2.84 percent, which was the biggest increase for the company since the fourth quarter of 2014. The provisions the company uses for credit card losses rose 1.4 percent to $586 billion. Discover also reported a net income loss of 2 percent to $564 million compared to last year’s first quarter results. However, the company noted that although charge-off rates rose, the rates are still at some of the lowest levels since the Great Recession.

 

Capital One reported a net income of $810 million for the first quarter of 2017, which is a 20 percent loss compared to this time last year. Capital One’s share price fell to $83.06 on the news, but the company said it expects a 7-11 percent growth rate in its earnings-per-share for the rest of the year. The company also stated that it expects its efficiency ratio to improve to nearly 51 percent.

 

 

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Igor Cornelsen Shares Tips To Be Successful In Financial Investments

Brazilian investor and stock market trader, Igor Cornelsen has an online blog where he publishes investment advice. Mr. Cornelsen currently works at The Bainbridge Group, which is an offshore investment and financial advisory company based in the Bahamas. Cornelsen’s career includes being an executive at major Brazilian banks and being both a private as well as institutional investor. Below are some of the latest tips that Igor has published on his WordPress blog.

 

Igor starts out with saying that both novice investors as well as veteran ones must know and stick to the rules of investment. He stresses that investing is a risky and often difficult venture. If you do not understand the rules of investment and know what your goals are, then investing will become even more difficult and risky for you. Here are some ways that you can reduce your risk and invest more confidently according to Igor Cornelsen.

 

Mr. Cornelsen gives the advice that you should start setting aside money and investing it as early as you can. A person does not have to be young of age to begin investing, but the ideal time to start investing is when you are still young. Investing while you are young will allow you to maximize returns through what is called compound interest. Even if you are not young, you should start to invest as soon as you can or better yet, you should invest right now.

 

Another tip from Cornelsen is to diversify your investments. Spreading your investments out over different companies and in different financial instruments will greatly reduce your risk and increase your chances of making a gain on your varied investments. Cornelsen suggests that you invest in safe investments such as bonds and also more high risk investments such as stocks if you can.

 

The last tip from Igor Cornelsen is to seek the advice and service of a financial advisor, at least when you start out investing. An advisor can teach you the ins and out of investing and help you come up with a workable plan. Cornelsen also suggests you try and educate yourself about investments by reading financial magazines and keeping up to date with financial markets.

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Brazil Plans To Use $18.5 Billion In Public Funds To Accelerate Economic Growth

Brazil has some work to do. The country is still trying to shake off the worst recession in more than 90 years. The new President of Brazil, Michel Temer, is trying to pull economic rabbits out of his country’s economic hat. Temer plans to introduce a new “Advance” or “Avancar” program soon. That program will replace the Dilma Rousseff PAC program. The plan is to invest $18.5 billion in public funds by the end of 2018.

 

 

About half of the money will be used to rebuild the country’s crumbling infrastructure, as well as, fund transportation projects. Those projects include airport, highway, and railway restoration programs. The other half will go to housing, defense, education, health, water projects, tourism, and sports. The Rousseff plan was not that effective, but business leaders like Flavio Maluf, the president and CEO of Eucatex, think Temer’s plan will help the country’s GDP growth over the next five years.

 

 

Eucatex is one of Brazil’s leading exporters of building supplies. The Sao Paulo company sells floorboards, ceiling tiles, paint, varnishes and other building materials in countries around the world. Eucatex has an excellent reputation, and Flavio Maluf is one of Brazil’s leading environmentalists. Maluf’s grandfather was an entrepreneur, so he started a company that only sold one product back in 1951. The elder Maluf was a sawmill owner, and the mill had excess eucalyptus wood. Maluf came up with a eucalyptus wood ceiling tile, and he began selling the tiles. The response to the ceiling tile was overwhelming. Eucatex began to export the ceiling tiles to Argentina and Germany, and the company is now one of Brazil’s success stories.

 

 

Flavio Maluf is not only a successful corporate executive, he is also one of the country’s steadfast environmentalists. Eucatex is a good example of cause capitalism. For every tree the company uses to make building products, the company plants another tree. Eucatex operates four factories, and all of those facilities use clean energy. Eucatex offices in Brazil, and around the world, also use clean energy. Maluf and other corporate leaders think the Temer plan will also help the environmental causes.

 

 

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How Does Opening A New Credit Account Affect Your Credit Score?

Your credit history is one of the factors that will determine how your credit score will be impacted by a new credit account. Ten percent of your credit score is determined by new accounts. When you open a new credit account, this inquiry will show up on your credit report. This may not have an effect on your credit score. However, it can cause your credit score to go down slightly.

 

The number of inquiries that you have on your credit report and the type of inquiry will determine the impact that the new account has on your credit score. The more inquiries that you have, the lower your score will be. If you apply for multiple accounts, then lenders may think that you are trying to use your credit accounts to supplement your income.

 

A new credit account will also make your credit age younger. Keep in mind that a new credit account can benefit your credit if it is different from all of the other accounts on your credit report. For example, you have multiple credit cards on your account, and you take out a car loan. This benefits your credit score because you have diversified your credit history.

 

Adding new credit can also reduce your credit utilization. This is the balance to the limit ratio. If your credit score does drop, then you can get your score back up within a few months. Keeping balances low and paying bills on time will also help your credit.

 

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Personal Finance- No Savings and Substantial Debt

There is no shortage of Americans who are in substantial debt, and there is no shortage of Fintech apps designed to help people with their personal finances. According to Forbes, a third of Americans have nothing saved for their retirement and 70 percent of people have less than $1,000 in their savings. Although the Fintech market is flooded with new apps for personal finance, most of those apps focus on spending rather than saving. Based on the debt burden of most Americans, apps should focus on financial wellness by helping people get out of debt and improving their credit scores.

 

The good news is there are plenty of apps available that help Americans focus on building budgets and saving money. Mint is a popular personal finance app that gives users a dashboard of their financial standing. The app helps users track their current account balances, including savings and checking accounts and credit card balances.

 

Another popular finance app includes Goodbudget, which helps users set aside their money for specific reasons. The problem is many Americans do not have the money to set aside for specific purposes, let alone an emergency. According to Forbes, nearly half of Americans do not have the financial resources to pay for an emergency totaling $400 or less. Many people must sell some of their possessions or take out high-interest loans just to pay for emergency expenses.

 

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Credit Card Debt Rises Above Pre-Recession Levels

Credit-card debt is on the rise as more Americans are racking up hefty bills at levels not seen since before the Great Recession. As of 2016, the average credit card debt in America is $16,061, which is up 10 percent from a decade ago. The average credit-card debt in the U.S. before the Great Recession was $14,546, according to the Federal Reserve Bank of New York. However, credit-card debt is down from the 2008 levels, which was the peak of the recession.

 

Many economists and financial experts believe the trend will continue in the years to come. Mortgage debt and student loans will play a significant role in the debt burden of most Americans. In 2016, mortgage debt in America averaged $172,806, and auto loans stood at $28,535. The total household debt for all Americans in 2016 averaged a whopping $12.4 trillion. By way of comparison, the average total household debt averaged $11.7 trillion in 2010.

 

Some analysts speculate the root of the problem is expenses continue to outpace the median household income in the U.S. Although median incomes are up 28 percent in the last 13 years, expenses are up dramatically, including medical costs and food and beverage costs. The cost of food and beverages are up 36 percent in the last 13 years while medical costs rose 57 percent during the same period.

 

 

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How Anthony Toma Helps Aspiring Actors and Models

As the Chief Executive Officer and Founder of acting and modeling agency Nine9, Anthony Toma has helped thousands of people find careers in these fields. His agency is unique in the industry as it puts aspiring models and actors in contact with people in the industry who are hiring for roles and doesn’t collect a commission from their work. He first entered the industry in when he saw a franchise opportunity in a magazine at a grocery store. His first company expanded to 26 offices across the United States but ultimately failed as the business model wasn’t entirely workable. He then developed a new company in 2003 he called Coral Reef Productions, Inc. and changed its name to Nine9 a number of years ago.

One of the most exciting business trends that Anthony Toma has seen is that starting a new company doesn’t require a million dollars like it used to. The internet has enabled people to start with little to no money and find success. This evolution of the world of business has led to a great many products and services that have never been seen before and read full article.

Anthony Toma calls Nine9 an Unagency because it’s unique in the world of acting and modeling. His company represents the overwhelming number of people who don’t have an agent working for them. Nine9 has a website with cards featuring all of the people they have as clients. The company also uses cutting edge technology that can alert people 24/7 on their smartphones if their software finds a good match for them and upcoming casting calls and Nine9 of Facebook.

Another way Nine9 helps its clients is by holding monthly industry workshops. Also attending these workshops is industry leaders who make the decisions on who to hire for parts. Another way they help clients is by providing a talent evaluation process that picks out the clients best attributes and talents and what Nine9 knows.

 

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