Bidenomics is working as intended....Credit cards were the largest, single source of consumer debt, passed 1 trillion

[1srelluc]

The New York Fed said credit cards were the largest, single source of consumer debt. Increasing by $45 billion during the second quarter to stand at $1.03 trillion.

Wheee!

In a first, the New York Fed finds that U.S. credit card debt passed $1 trillion - UPI.com

For the first time since it began keeping records, the Federal Reserve Bank of New York said Tuesday that U.S. consumers are carrying a collective $1 trillion in credit card debt.

www.upi.com

The fundamentals of the economy are sound!

Hey, watch folks try to defend their CC spending.

 

[two_iron]

 

[justoffal]

The New York Fed said credit cards were the largest, single source of consumer debt. Increasing by $45 billion during the second quarter to stand at $1.03 trillion.

Wheee!

In a first, the New York Fed finds that U.S. credit card debt passed $1 trillion - UPI.com

For the first time since it began keeping records, the Federal Reserve Bank of New York said Tuesday that U.S. consumers are carrying a collective $1 trillion in credit card debt.

www.upi.com

The fundamentals of the economy are sound!

Hey, watch folks try to defend their CC spending.

I've been screaming about this for months....the default is gonna be a monster!

 

[1srelluc]

I've been screaming about this for months....the default is gonna be a monster!

You sure don't see the leftists here bragging this up do ya?

 

[justoffal]

You sure don't see the leftists here bragging this up do ya?

A large part of the so-called Biden economy in consumer purchasing is being done on credit. This means two things. As people approach their credit limit the economy will decline sharply as spending comes to an abrupt halt and in conjunction with that the increasing debt load will be a major inflationary pressure on the dollar unit as the interest payments eat away the purchasing power of each dollar.

 

[Harry Dresden]

were is the banker?......he will set everyone straight......