Infinite Borrowing

 Americans have substantially increased their borrowing in October, due to big increases in auto and student loans, and the largest rise in credit card debt in five months.

Consumers have increased their borrowing by 18.2 billion dollar since October to a seasonally adjusted $3.08 trillion, accordion to the Federal Reserves Friday reports, which happens to be a record level and follows up a September increase of $16.3 billion.

$13.9 billion rose in borrowing from auto loans and student loans, But  borrowing in the credit cards category has rose $4.3 billion dollars, following a decline of $218 million in September. One of the possible reasons for this could include Black Friday shopping but Christmas coming around the corner a slight increase could be expected. Another possible contributor is society's encouragement to go back to school and learn new trades in a time where wages increase very minimally. Since student loans account for the biggest increase in borrowing debt since the recession that ended in June 2009, controlling that could but a dent in this increasing issue. 

The only problem is that the Fed's borrowing report tracks credit card debt, auto loans and student loans but not mortgages, home equity loans and other loans. Meaning that there is still a cause of a the rising debt that is unaccounted for, but will have to be analyzed further to ensure our economy takes yet another step in the right direction. 

http://www.foxnews.com/us/2013/12/08/teen-dies-aboard-delta-airlines-flight-from-seattle-to-atlanta/?intcmp=trending

Fading Unemployement

In obamas second (and obviously last term) the U.S. unemployment rate fell to a 5-year low of 7 percent. November was the fourth straight month of solid hiring, this glimpse of hope shines bright for our economy. 

The Labor Department estimated that employers across the nation added about 203,000 jobs, nearly matching October's revised gain of 200,000. The jobs gained dramatically helped lower the unemployment rate from 7.3 percent in October to the flat 7 percent rate it's is recorded at today with hope of lowering even further. 

The rejuvenating job market is likely to create speculation that the Federal Reserve may start to revise their bond purchases in their next scheduled meeting. 

The economy has now generated an average of 204,000 jobs from August through November. In contrast to the average of 159,000 from April to July. 

An extremely surprising fact is that many of the November jobs acquired were in higher-paying industries. Manufacturers are reported to have added around 27,000 positions, (the most since March 2012), while, construction firms gained about 17,000.

In a year containing horrific murders, suicides, immense poverty, and an generic struggle embedded within the common American's life this serves as an empowering symbol that gives just enough strength into our economy's pale, weak hands to hold us together a little longer for a bigger and better change. The change Obama 1st campaign consisted of, but until then those trapped in fates cruel side must hang on with the this new glimpse of hope. 

http://www.foxnews.com/us/2013/12/06/us-unemployment-rate-falls-to-5-year-low-7-percent-as-employers-add-203000-jobs/