Credit card debt has hit another high in America. It is going to push past $1 trillion very soon.
RT:
US credit card debt inched close to a trillion dollars in the fourth quarter of 2022, the New York Federal Reserve Bank said in its quarterly report on household debt, released on Thursday.
According to the data, Americans’ credit card balances jumped by $61 billion to $986 billion in the last three months of the year, a record high in the entire history of its observation since 1999.
Total household debt exceeded $16.9 trillion. Authorities attribute the growth to stubbornly high consumer prices, strong consumer spending and repeated key interest-rate hikes, which pushed credit card interest rates to nearly 20%.
Bank customers were also seen delaying loan payments more frequently, which, according to New York Fed researchers, is “worrying.”
People are using credit cards just to acquire basic essentials yet we are told the economy is in fantastic shape by every clown and asshole in Washington DC.
I’m starting to think that Joe Biden and the Jews around him are lying about the state of the economy.
