As Prices Rise Americans Turning to Their Credit Cards
As Prices Rise Americans Turning to Their Credit Cards GOOD SLAVES! Prices keep rising faster than wages . The stimulus checks are long gone. Savings are being depleted. How is the average American supposed to make ends meet? The only option is to charge it. And that’s exactly what Americans are doing. Consumer debt rose at the fastest pace in 20 years in February. Total consumer debt rose by $41.8 billion 11.3% in February, according to the latest data from the Federal Reserve . It was an 11.3% increase year-on-year and the highest rate of growth since November 2001. Analysts had projected a modest $15 billion gain. Americans now owe a total of $4.48 trillion in consumer credit. The Federal Reserve consumer debt figures include credit card debt, student loans and auto loans, but do not factor in mortgage debt. When you include mortgages, US consumers are buried under more than $15 trillion in debt. Americans ran up their credit cards at a blistering pace in February. Revolving credi