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Keyword: rconomist

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  • Goldman Economist Warns US Consumers Maxing Out Credit Cards Will Lead To Late 2022 Spending Collapse

    05/18/2022 2:06:30 PM PDT · by blam · 21 replies
    Zubu Brothers ^ | 5-18-2022
    A little over a week ago, when looking at the latest consumer credit data from the Federal Reserve, we were shocked to learn that in March, credit card debt soared by a record $52.4 billion, the biggest monthly increase on record and more than double the expected change. Summarizing our views on this historic surge in credit-fueled purchases, we said that “while this unprecedented rush to buy everything on credit at a time when there were no notable Hallmark holidays should not come as much of a surprise, after all we have repeatedly shown that for the middle class any...