12 Feb 2024 4:10 pm
Have been receiving "new terms" mailings from the credit card companies, some of those cards are over 30% now!Sumela » 12 Feb 2024, 12:18 pm » wrote: ↑ Household Debt Tops $17.5 Trillion
And Americans Are Feeling The StrainYou’ve got to give credit to Visa, Mastercard, Discover and Amex.
They’ve managed to build one heck of a booming economy.Despite surging price inflation, “resilient” American consumers have managed to keep spending money, driving “strong” economic growth – thanks to their credit cards.
But there's a problem. Americans are having an increasingly hard time keeping up with the bills.Household debt rose by another $212 billion in the fourth quarter of 2023, surging to a record $17.5 trillion, according to the latest data from the New York Fed.
Crony Capitalism for the elites....debt slavery for the cattle.
It's a good time to be retired and not dealing with the rat race. You know that financial stress has spilled over into the work environment.