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US Credit Card Debt Rebounds, Hits New Record At $1.35 Trillion
Looking for more evidence that incorrigible American consumers might've finally exhausted the last of their pandemic savings buffers?
That's supposed to be a rhetorical question. The implied answer's "Yes! Yes, of course I'm looking for more such evidence!"
In reality, you probably don't care. And if you do, you could always just consult retail sales (which disappointed a second month in the last release) or measures of consumer sentiment (which are generally subdued, the University of Michiga
Just a hunch, but I’m guessing the people owing $1.35T in credit card debt has minimal overlap with the owners of the $6.2T in money market funds.
*have
H-Man, keep an eye bankruptcy filings business and non-business (individuals) which have been moving up. Seehttps://www.uscourts.gov/news/2024/04/25/bankruptcies-rise-16-percent-over-previous-year