💳 Top users of credit cards:
1. Brazil 🇧🇷: 72%
2. Canada 🇨🇦: 68%
3. South Korea 🇰🇷: 61%
4. France 🇫🇷: 58%
5. UK 🇬🇧: 55%
6. USA 🇺🇸: 49%
7. India 🇮🇳: 47%
8. Japan 🇯🇵: 46%
9. China 🇨🇳: 42%
10. Netherlands 🇳🇱: 38%
(Statista Consumer Insights, 2024)
New tariffs from President Trump are set to impact $1.3 TRILLION worth of US trade.
This marks the biggest tariff hike since the Great Depression, with rates set to break above 20%.
Are you ready for it?
Follow us @KobeissiLetter for real time analysis as this develops.
Shocking stat of the day:
Social benefits reflect nearly HALF of the US government's expenditures.
Social benefits as a share of $7.1 trillion government spending hit 45% in 2024, near an all-time high.
This percentage has surged by ~10 points since 2000.
During this period, Medicaid and Medicare's share of spending is up 2.8 and 3.6 percentage points to 9.4% and 10.9%, respectively.
At the same time, the "other benefits" portion has increased by 2.2 points to 9.9%.
Meanwhile, Social Security now reflects 14.6% of government spending.
Government spending is out of control.