Credit card debt is the only thing keeping the American economy going. That and other forms of debt. Credit card debt is now at record highs and it keeps going higher. It passed $1 trillion awhile back.
RT:
US credit card debt continued to surge in July-September this year, marking the eighth consecutive quarter of year-over-year increases, economists at the New York Federal Reserve bank said in a report this week.
According to their calculations, credit card balances increased by $48 billion (4.7%) from the previous three months and by $154 billion on an annual basis, the highest increase since records began in 1999. This brought the total outstanding credit card debt to a new record high of $1.08 trillion.
Meanwhile, mortgage balances also surged to $12.14 trillion, while student loan and auto loan balances rose to $1.6 trillion each.
Total household debt grew by $228 billion during the reporting period, largely due to credit cards and student loans, and reached $17.29 trillion.
This is happening at the same time the dipshits in the Biden regime and Jewish liars on television keep telling us that the economy is fine.
If things were fine we would not have $1 trillion plus in credit card debt. People are not going to be buy things with credit cards indefinitely. Especially not with the insane interest rates people are being charged and all the inflation we are seeing.
