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Consumer Credit (debt) just keeps on climbing - no end in sight


               
2014 Mar 24, 1:07am   489 views  1 comment

by darlag   follow (1)  

From the article:

"One would have thought the collapse of the housing bubble and ensuing economic crisis would have been a wake-up call for Americans. One would be wrong."

The text book Keynesian "borrow and spend" attitude is alive and well. But how much longer can it continue before the next bubble bursts?

http://www.globaldeflationnews.com/consumer-credit-bubble-on-the-verge-of-implosion-but-who-cares/

#housing

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1   Tenpoundbass   2014 Mar 24, 4:12am  

That's student debt, and financed Obamacare out of pocket expenses.

OK I half kid,
But the IRS favorite form of payment for those who can't pay is to force you to put it on a credit card if you have one with a big enough available credit.

And as of about 5 or 6 more days, the Majority of America will owe the IRS next tax season.

Sooooooo... there's... that!

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