... 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.

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