by Michael Snyder, The Economic Collapse Blog:
Consumer sentiment is plummeting, delinquency rates are rising, and nearly three-quarters of all U.S. consumers admit that they are “financially stressed”. If U.S. consumers are experiencing this much pain now, what will things look like six months from today if there are empty shelves and widespread shortages? We witnessed a brief period of severe financial stress during the early days of the last pandemic, but we would have to go all the way back to the Great Recession to find a time that is truly comparable to what we are enduring now. U.S consumers have been getting hammered for years, and now it appears that our problems are about to go to an entirely new level. The following are 12 signs that U.S. consumers are experiencing far more financial stress than most people realize…
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#1 According to the University of Michigan, consumer sentiment in the United States has fallen to the second-lowest reading ever recorded…
Americans are rarely this pessimistic about the economy.
Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952.
#2 According to a new CNBC/SurveyMonkey poll, a whopping 73 percent of U.S. consumers admit that they are “financially stressed”…
Americans are growing increasingly uneasy about the state of the U.S. economy and their own personal financial situation in the face of stubborn inflation and tariff wars.
To that point, 73% of respondents said they are “financially stressed,” with 66% of that group pointing to the tariff wars as a main source, according to a new CNBC/SurveyMonkey online poll.
The survey of 4,200 U.S. adults was conducted April 3 to 7.
#3 Approximately two-thirds of U.S. adults feel like they are “behind on their savings goals”, and half of U.S. adults believe that they will never reach their savings goals at all…
67% of Americans feel behind on their savings goals, with nearly half (47%) believing they’ll never reach their targets
#4 More than 60 percent of U.S. adults that currently have savings accounts have taken money out of them since the start of this year…
63% of people with savings accounts have withdrawn money since the beginning of 2025, primarily for unexpected expenses (48%) and everyday necessities (36%)
#5 The percentage of U.S. credit card accounts that are at least 90 days past due has reached the highest level in 12 years…
The percentage of credit card accounts that were at least 90 days past due hit a 12-year high in the fourth quarter of 2024.
According to data from the Federal Reserve Bank of Philadelphia, 0.90% of accounts were delinquent, the most since the Fed bank began its report.
#6 5 million student loan borrowers in the United States have not made a single payment in the last year, and 4 million other student loan borrowers will soon reach that status…
Of the more than 42.7 million student loan borrowers in the U.S., who owe a collective $1.6 trillion, the department says that more than 5 million have not made a payment in the past year. That number is expected to grow as an additional 4 million borrowers are approaching default status.
#7 For the first time in about 5 years, the Department of Eduction “will resume collections of its defaulted federal student loan portfolio”. This is going to put additional financial stress on millions of U.S. households…
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