Thanks to statism, 1 in 4 Americans a Credit Risk

Thanks to the Great Recession, the credit scores of millions more Americans have sunk to new lows. New figures show that an astounding 1 in 4 households are now in the lowest credit category, putting them among the 43 million considered poor risks for lenders. Even more consumers are expected to fall into this category in the coming months.

Banks' tightened lending standards means that not only these people but also those with moderate credit scores are finding it increasingly hard to get credit cards, loans or mortgages. This is one reason for the slow economic recovery, since debt-fueled consumer spending played a major role in past recoveries, AP reports. On the positive side, the number of consumers who have a top score of 800 or above has also increased recently.

AP

Thanks to statism, 1 in 4 Americans a Credit Risk

Thanks to statism, 1 in 4 Americans a Credit Risk

Anarcho-Capitalist Categorical Imperatives

AnCaps' Laissez-faire Free Trade Zone