The U.S. Now Has:
1. Record $17.29 trillion in household debt
2. Record $12.14 trillion in mortgages
3. Record $1.60 trillion in auto loans
4. Record $1.08 trillion in credit card debt
Total mortgage debt is now more than double the 2006 peak and mortgage rates are nearly 1.5% higher than the 2008 peak.
Meanwhile, student loan payments just resumed for the first time since the pandemic with an average payment of $500/month.
This is all while new car loan rates are at a record 10% and credit card debt rates hit a record 25%.
The BLS reports are B.S. The Covid/Fed. Reserve bank's largess needs to work through the system before we can make any quality judgements on any of the Fed. G'ment numbers.
IF the Fed. G'ment budget is not trimmed things will get ugly - just do not know how soon. It took Rome a very long time to get to the Vandals' sacking of Rome in 455
Great catch showing debt is endless and it’s all designed to bring the country down.There is no other rational explanation. We have the criminals in charge of the country. DJT can’t come back soon enough for me.