76% of consumers now have debit cards and the average active consumer debit cardholder spent $8,326 on their card in 2011, up from $7,781 in 2010.
40% of adult Americans have no life insurance whatsoever. Yet, 86% of those surveyed say people need it and should have it.
The Census Bureau reports the average American household saw its income fall for the 4th consecutive year in 2011. This is worrisome as consumer spending provides about 67% of economic growth.
RealtyTrac reports homes entering into the foreclosure process in Aug. were up 1% vs. Jul. but are down 13% over the same month in 2011 (when it hit a 17Y high).
Moody’s is warning the U.S. credit rating could be downgraded if the government does not take steps to avoid the fiscal cliff (expiration of Bush tax cuts, tax increases and spending cuts) at the end of the year. Moody’s said the gov’t must produce a stabilization and downward trend in the ratio of debt to GDP to avoid a downgrade.