Most Americans live paycheck to paycheck as debt levels climb, Peter Spina notes

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Most Americans live paycheck to paycheck as debt levels climb, Peter Spina notes — Americans face debt surge and late payments

Most Americans are living paycheck to paycheck and are at risk of falling into depression in the event of a recession, according to Peter Spina, CEO of GoldSeek.com. Spina described the situation as a bad combination of high debt and rising rates, highlighted by 13% of credit card balances now being seriously past due and a growing number of households falling behind on mortgages.

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Spina has tracked fluctuations in precious metals during periods of economic uncertainty. In a recent update, he reported that gold held its gains as silver slipped below $60 while rates and oil prices increased. He also covered the launch of Ethiopia’s first $50 million gold refinery joint venture, aimed at boosting regional processing capacity.

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