Snowball, Inc.
Financial Services - Vancouver, Washington, United States
Snowball, Inc. Employees
Snowball, Inc. Details
We Have a Big Problem! Consumer debt (Mortgage, School, Auto, Credit Cards), in the United States, has reached historic levels. The Federal Reserve Bank of New York's Center for Microeconomic Data today, (Feb 11th 2020) issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $193 billion (1.4%) to $14.15 trillion in the fourth quarter of 2019. This marks the 22nd consecutive quarter with an increase, and the total is now $1.5 trillion higher, in nominal terms, than the previous peak of $12.68 trillion in the third quarter of 2008.The Effective Debt totals $25.47 Trillion. When we talk about debt, as consumers, we've been -taught- to look at the Principle Debt amount only. Regulatory agencies typically ignore the Accrued Interest portion of the debt, even though it adds another 80% (on average) to the total encumbrance. Accrued Interest is never counted in official records. Our trusted oversight organizations and reporting entities (Institutional Banks and The Federal Reserve) perpetuate the notion of counting the Principle debt balance. The total US Effective Debt is never disclosed. In order to solve the national debt crisis, we must understand that there are three distinctly different parts to the debt equation. (Principle Debt + Accrued Interest = Effective Debt).Snowball, Inc. understands the problems you face every day.
Snowball, Inc. Technologies
Load Balancers
Apache
Web Performance Monitoring
New Relic
Other
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