Posted on 02/06/2024 2:37:10 AM PST by davikkm
Americans are piling on more credit card debt amidst persistent inflation and high interest rates, driving total debt to a new record of over $1.08 trillion, according to the New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit. Meanwhile, Fed Chair Powell downplays the likelihood of a real estate-led banking crisis but anticipates closures or mergers among smaller banks. The tightening monetary policy reflects the most restrictive measures since the 1970s and 1980s, with stricter loan standards observed across the board, especially in Commercial Real Estate loans.
(Excerpt) Read more at citizenwatchreport.com ...
I have two credit cards. One I use to make my routine purchases. It is paid off every two weeks. The second one is for purchases outside my routine purchases, to which I pay off as fast as I can. Living off a credit card and using it as a source of income is stupid.
Agree with that.
To be fair:
“The Dollar ain’t sh!t”
So a record in today’s puny dollars isn’t necessarily a big deal.
Not to worry Bidenomics will save them.
You mean the same folks as the holders of 40 trillion national debt or whatever?
Shocked by consistency. Who will thet vote for?
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