The economy won't crash tomorrow, but, red flags

- "Household debt hit a record high of $13.5 trillion last quarter"

The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal that the nation's economic expansion is growing old.

Flows of student debt into serious delinquency — of 90 or more days — rose to 9.1 percent in the third quarter from 8.6 percent in the previous quarter, according to data from the Federal Reserve Bank of New York. - NBC News

 - "Why aren't millennials spending? They're poorer than previous generations, fed says"

Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses. However, a new study by the Federal Reserve suggests it might be less about how they are spending their money and more about not having any to spend.

A study published this month by Christopher Kurz, Geng Li and Daniel J. Vine found millennials are less financially well-off than members of earlier generations when they were the same ages, with "lower earnings, fewer assets and less wealth." - MPR

- "One year later, an analysis of the U.S. economy shows just how destructive the GOP tax scam was"

What Republicans banked on was that corporations would make initial big splashes, including corporate statements that attempted to mislead the public by conflating deals already in place, negotiated between unions and executives, with the tax breaks. In many cases, those businesses are slashing jobs, continuing forward with the plans they had in place before Trump and the Republican Party robbed the nation’s coffers. Report after report has come out showing that big business is indeed making economic “history”… with record-setting corporate buybacks. - Daily Kos