Relevant:
- Credit card debt nearly reaches 2008 levels
- How the Fed rate hike will impact millions of Americans
- U.S. consumer credit surges on increased credit card use
- The Ticking Credit Card Time Bomb
- Hitting the credit card wall -- Credit card debt contracts 17 percent as the grand American household deleveraging continues.
2015-08-01 — mybudget360.com
... credit card debt while remaining subdued since the Great Recession suddenly made a 180 degree turn... Total outstanding credit card debt recently surged beyond the $900 billion mark... And with the average nationwide interest rate of 14% that means spending hamsters are probably dropping tens of billions on interest costs alone...
Adjusting for inflation US household income is back to where it was nearly 30 years ago. So to keep up the pretense that things are perfectly fine with the middle class, people are spending money they don't have. This by the way, was at the core of the Great Recession.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.