by Boo_Randy
Per the NY Fed, U.S. household debt hit a record $16 trillion as soaring inflation outstripped wages, causing consumers to sink deeper into debt. This is not going to end well. Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay.
www.cnn.com/2022/08/02/economy/consumer-credit-borrowing-surge/index.html
**New York (CNN)**Americans are piling up credit card debt as they struggle to keep up with the high cost of living.
US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday.Even as borrowing costs surge, the NY Fed said credit card balances increased by $46 billion last quarter.