Current Events in December 2024

In addition to the recent warnings about bird flu in raw milk in California, the state has also reported the first case of the virus in a child. 

The case was first reported by the California Department of Public Health (CDPH) and was confirmed by the Centers for Disease Control and Prevention (CDC). The child was in Alameda County, California, had mild respiratory symptoms, no history of contact with an infected animal, and was recovering at home. 

“It's natural for people to be concerned, and we want to reinforce for parents, caregivers and families that based on the information and data we have, we don't think the child was infectious – and no human-to-human spread of bird flu has been documented in any country for more than 15 years," said CDPH Director and State Public Health Officer Dr. Tomás Aragón. 

Details of infection

The case was identified as a result of ongoing national surveillance related to bird flu. The child had mild flu symptoms and no interactions with potentially ill animals. 

However, it’s important to note that the infection remained contained to the child. The immediate family was also tested for bird flu and all tests came back negative. While some family members had more common respiratory viruses, there was no person-to-person spread of bird flu. 

The CDPH also explained that the child’s test showed low levels of the bird flu specimen, which also indicates he/she isn’t likely to be contagious to others. Additionally, the follow-up test four days later came back negative for bird flu, further confirming that the child wasn’t contagious. 

Despite this, the CDPH and the CDC are working together on an ongoing investigation to determine how the child became infected. 

Should consumers be concerned?

While the CDPH has reached out to anyone who came into contact with the sick child, the risk of infection spreading remains low. 

The CDC explained that cases like these are rare, but they do occur occasionally, and for consumers who don’t work around animals, there is a very low risk of contracting bird flu. 

However, for those who do work with animals, particularly livestock or cattle, the risk of infection is higher, and the CDC encourages the use of personal protective equipment (PPE) whenever possible. 

All consumers are urged to seek medical care if they develop any related symptoms and have been in contact with wild animals. 

An unfortunate fact of life during the holidays is that millions of consumers add to their credit card balances. They may have every intention of paying them off but all to often those charges are still on the account when the next holiday season rolls around.

A  new study by LendingClub Corporation documents the problem, showing that a significant portion of Americans find themselves ensnared in unintentional credit card debt, leading to financial instability and mental distress. 

Despite initial intentions to use credit cards for convenience, credit building, or rewards, nearly half of cardholders end up carrying a balance, often unaware of the high interest rates they are paying.

The research highlights another troubling trend: many consumers do not view credit cards as loans, which leads them to overlook interest rates and terms. This oversight has resulted in 47.3% of Americans accumulating revolving credit card debt, exacerbated by inflation and rising living costs, particularly in food and groceries.

Conflicting realities

Part of the problem may be consumers find themselves in conflicting realities. Nearly 66% of Americans say they can manage their finances without credit cards, 60.3% use them weekly. This dependency can lead to significant financial burdens if balances are not paid in full each month. Nearly 27% of Americans dedicate as much as 40% of their paycheck to credit card debt, a cycle that is difficult to escape.

"No one intends to carry credit card debt, and that's part of the problem," said Mark Elliot, chief customer officer at LendingClub. 

"Cards are great for convenience, to build credit, or to earn rewards, but if you use them as a loan, you need to know how to pay down that high-interest loan as quickly as possible. If you can't, your debt can grow exponentially and you can find yourself on a hamster wheel of credit card debt. Once you're on that wheel, it can be really hard to get off, and that's why credit cards are so lucrative for issuers."

Emotional toll

The emotional toll of this debt is profound, with 75% of Americans frequently thinking about their debt and 40% experiencing negative emotions such as anxiety and frustration. 

Managing credit card debt can be complicated by having multiple balances, fluctuating interest rates, and varying payment schedules. Despite efforts to manage these debts, many Americans lack effective tools, with 22% indicating they lack proper monitoring resources and 28.7% seeking advice from informal sources like family or social media.

Strategies such as the debt snowball or avalanche methods are common but can be slow and costly due to interest charges. Only 10.4% of respondents opt for consolidating debt into a personal loan, which could offer lower interest rates and a structured repayment plan.

As the holiday season approaches, Elliot advises consumers to monitor their credit card debt and plan for repayment.