There's an elephant in the room and it's going to rampage one day soon whether we talk about it nor not.  That elephant is the consumer debt crisis.

It's hard to wrap your head around there being a consumer debt crisis when the economy seems to be doing so well...that is until you realize the economy is doing so well ( in part) because consumers keep borrowing money.  We're not pouring cash into the economy, we' racking up loans instead and the creditors are thrilled with us...for now.  But it won't be long before the elephant rampages and when it starts it will knock things off-kilter in every direction.  This elephant doesn't discriminate and it will stop at nothing but cold, hard cash. 

THE AVERAGE CONSUMER HAS LESS THAN $1,000 IN THE BANK!

Mortgages, auto loans, credit cards, and student loans have ballooned total consumer debt to $14 trillion, and this number is only trending upward. The easy credit economy (manufactured by lending...

 Unemployment is down, the stock market is soaring, and consumer confidence is stronger than ever before.  In fact, Americans are so confident in the economy (and that steady flow of “milk and honey”) they're living as if there's no end to it and they’re borrowing more money than ever before!   U.S. household (consumer) debt just reached $14 TRILLION for the first time in our history.  Sadly, with all that abundance flowing “we the people” are busy CHARGING instead of CASHING in.

It’s all that (over) confidence about an endless supply of money that is drawing people into the consumer debt trap and its overspending that will lead to disaster for millions of people with just one little mishap in life.  A change in the housing market…a cash flow crunch…a lost job…a death or divorce…illness…so many things can lead to financial disaster unexpectedly and it’s only a matter of time...