Americans credit card debt is surging as the economy continues to crumble.
Americans’ credit-card debt just had the biggest jump in more than 20 yearshttps://t.co/ExYzxr2Pvd
— Scott Galloway (@profgalloway) August 3, 2022
Household saving rates are dropping while credit card debt is surging. https://t.co/K2ZL91brcK
— Glenn Jacobs (@GlennJacobsTN) August 7, 2022
Record levels of household debt topping $16 TRILLION for the first time ever.
Record amounts of credit card debt increasing by $46 BILLION last quarter.
This is not sustainable, it’s a crisis.
— Max Miller (@MaxMillerOH) August 5, 2022
Household debt now totals more than $16 trillion. Credit card balances make up $890 billion of that total.
— unusual_whales (@unusual_whales) August 4, 2022
I don’t understand how anybody can say that the economy is doing good when things like this are happening. People would not be going into massive amounts of credit card debt if the economy was strong. This economy is heading into an abyss.
