Overall, total household debt increased over the last three months of 2022, jumping 2.4% to nearly $17 trillion, the New York Fed found.
The record credit card debt sounds an alarm about the health of U.S. borrowers despite a booming job market that boasts the lowest unemployment rate in more than 50 years, Wilbert van der Klaauw, an economic research adviser at the New York Fed,"Although historically low unemployment has kept consumer's financial footing generally strong, stubbornly high prices and climbing interest rates may be testing some borrowers' ability to repay their debts," van der Klaauw said.
The average credit card user carried a balance of $5,805 over the last three months of 2022, research firmAn employee restocks meat at a grocery store, Jan. 17, 2023, in North Miami, Fla.
Way to go lying liberal fascist ABC! U finally admitted that Bejing Biden and his fascist policies and failures have created inflation that is killing our country and putting Americans in massive debt and the poor house! He hates Americans! Illegals and criminals have more rights
Tell that to the White House!
Yes this is the result of printing too much money.
It's just the American citizens mimicking it's government..DEBT, DEBT, DEBT
We BUY to open and hold positions (ASSETS) LONG.. They SOLD to open and hold the positions SHORT.. $MMTLP Shareholders MUST be able to SELL to close their positions and SHORTS MUST BUY TO CLOSE their positions!! GaryGensler SECGov SECEnfDirector FINRA cromwellc OTCMarkets
All credit for this must go to Phillip Lowe and the RBA Board. You achieved your goal to bankrupt good Aussies; thrown many out of their homes; and taken away their jobs. Now they will all be called dole-bludgers and Centrelink-cheats. Good job boys and girls of the RBA.
The credit card system in the US is completely rotten, it forces people to run into debt. People need credits for almost everything, most US people have more than 10 credit cards. The indebtedness is guaranteed.
As Grandpa said, 'Live within your means!'
US GOVERNMENT debt is over 30 TIMES that amount. Talk about theft.
That's not much I'd buy it all for a dollar
Thankfully, I’m not that deep in credit card debt with only currently using about 18% of what I’m capable of borrowing. Those rates were high enough before they went up.
Credit card over use, pulling more money out of their IRA,,, Joe did that to us
That's all Hedge Fund's and Prime Broker's short liabilities total 10's to 100's of trillions of dollars.. its all a SCAM at this point!!!