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We’ve discussed in prior articles how consumers aren’t leveraged. However, when someone loses their job even if they only owe a small amount on their credit cards, it becomes a big problem. Luckily, last year the government came to the rescue with very strong unemployment benefits that paid some people more than their normal job did.
$BAC Bank of America credit card days past due trends pic.twitter.com/ednjtXLuaM
The slide above from Bank of America shows the latest developments. Credit card delinquencies fell from March through July as we had a recovery along with $600 weekly unemployment checks from the federal government. From August to early Q4 delinquencies increased maybe because the unemployment checks expired. Since then, they have fallen (outside of 90+ day delinquencies). That’s surprising because the economy got much worse in December as there were job losses for the first time in the recovery.
David Shankbone
The April 6, 2021, city election offers voters a chance to decide a majority of members on City Council at a time when many say decisions about land-use and other matters will have long-lasting impacts on the cityâs future.Â
Six of nine Council seats are up for grabs, and three of those six are open seats because term limits bar incumbents from seeking a third four-year term. The other three incumbents can run, but one may not, which would throw another seat into the mix.
So far, those interested in running include a retired Army colonel, a televangelist and a firefighter who is eligible to seek a Council seat due to a recent change in the cityâs Personnel Policy Manual. Heâd have to give up his city job if elected.
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