Abstract: The debt problem has always been a headache for the United States. After Trump took over as president of the United States, the rate of debt expansion was particularly rapid, which exacerbated the panic in the market.

May 6 News The debt problem has always been a headache for the United States. After Trump took over as president of the United States, the rate of debt expansion was particularly rapid, which exacerbated the panic in the market. Moreover, the sudden virus crisis has hit the US economy hard. However, in the context of the epidemic, the debt problem has been spread out, the economic industry has been hit hard, the people's economic pressure has increased, and household debt has also increased suddenly. At the same time, the government needs to introduce economic stimulus measures to save losses, which forces the United States to continue borrowing money ...

Beijing May 6th news, the data released by the Federal Reserve Bank of New York on Tuesday showed that US household debt in the first quarter totaled a record high of 14.3 trillion US dollars, an increase of 1.1% from the previous quarter and a high point during the financial crisis in the third quarter of 2008 12.7 trillion US dollars is higher than 1.6 trillion US dollars.

Specifically, in the first quarter, student loans increased by US $ 27 billion to US $ 1.54 trillion, of which about 10.8% of the debt was owed for 90 days or more, and the overall debt delinquency rate fell to 4.6%; car loans increased by US $ 15 billion To US $ 1.35 trillion, credit card loans fell US $ 34 billion to US $ 890 billion. Mortgage loans increased by US $ 156 billion to US $ 9.71 trillion.

The Federal Reserve Bank of New York said in a press release: “The credit card debt fell significantly more than the same period last year, which may reflect the early signs of a reduction in consumer spending due to the new crown epidemic.”

In addition, data show that the ratio of non-performing mortgage loans fell from 1.07% in the previous quarter to 1.06%, and the ratio of non-performing student loans fell from 11.06% in the previous quarter to 10.75%. The number of credit cards rose from 519.4 million in the previous quarter to 51141 million.

Many consumers in the United States have recently faced layoffs due to the epidemic, and most economic activities have been closed to prevent the spread of the new coronavirus. Declining consumer confidence has caused a sharp decline in retail sales.

In fact, the U.S. economy is facing the dilemma of the Great Depression today. It is precisely the past decades that it has been intoxicated by Wall Street and the fragility of its debt financial model. However, the latest progress shows that the US economy may be carrying out the debt model.

The U.S. Treasury Department announced on May 4 that it is about to issue 3 trillion (2.99 trillion) U.S. Treasury debt plans (in the April-June 2020 quarter), which also means that the total debt in the United States is as high as 25 In the case of trillions of dollars, the United States will also borrow 3 trillion dollars from the world. This year the total amount of money borrowed from the world by the United States will exceed the sum of the last five years.

It is worth noting that in the past 23 working days, the US Treasury and the Federal Reserve have put a total of US $ 12 trillion in liquidity and economic stimulus programs on the market to make up for the vulnerability of the system. The analysis believes that whether it is continuously favored by large global buyers has become the key to the sustainability of the US debt economic model. Even a moment is inseparable and depends on the support of big global buyers.

Let's look at the signs of the difficulties in the US service industry, manufacturing industry, petroleum industry, agriculture and other fields mentioned above. Obviously, the crux of the US economy's depression at this time is not the Fed's action on the US dollar, but the US economy is In the past few decades, relying on the US dollar, without paying for the expensive losses paid.

Prior to this, the new debt king Gang Lak said a few weeks ago that the size of the US debt has exceeded the nominal GDP. If it is not debt growth, the US economy will grow negatively. And the Fed's uncontrolled abuse of the status of the dollar may push the US financial market to the "yin and yang boundary". We (the US economy) are on the way to hell.