The amount of total credit card debt in the United States is almost at $1 trillion now.
Total credit card debt in the United States reached a record $930.6 BILLION in the fourth quarter of 2022.
18.5% spike from a year earlier.
Interest rates have been going up alongside debt.
Not a good mixture.
— Gold Telegraph ⚡ (@GoldTelegraph_) February 3, 2023
The amount of debt alongside rising interest rates is certainly not a good combination. You would not have such a situation if our economy was in good shape. People are keeping up appearances by using plastic and charging everything.
Most Americans think they are free but they are really just debt slaves. The average homeless person is more free.
