A strong economy held up by consumer borrowing/debt?

I STILL do NOT believe all the talk about the American economy doing Great….

Axios has a piece on how we Americans buy things and put of paying for them right away with credit and small monthly payments….With student loans added in for desert….

Mounting U.S. debt, and rising credit-card delinquencies, are creating what one big bond investor describes as a “cocktail of economic risk.”

Why it matters: These realities run contrary to the overall narrative of a strong U.S. economy.

What’s happening: The Federal Reserve warned that corporate America is taking on too much debt, Axios’ Dan Primack writes.

Rising consumer debt is also a worry. U.S. banks are tightening their lending standards and raising rates on commercial loans and credit cards, according to Axios’ Dion Rabouin and Courtenay Brown.
Credit card delinquency rates in Q1 hit the highest level since 2012, driven partly by a spike in overdue payments by people ages 18–29, according to the New York Federal Reserve.
U.S. national debt is $1 trillion higher than the previous record….

More…

jamesb on The Economy is doing Soooo Good these outfits are closing stores…..: “Yup CG…. The REALITY of these times ARE CONFUSING… Damn REAL…” Dec 26, 19:43
jamesb on The Economy is doing Soooo Good these outfits are closing stores…..: “Ok…. I THOUGHT Biden was doing a Good job Obviously a good amount of others did NOT…. Remember We here…” Dec 26, 19:42
CG on The Economy is doing Soooo Good these outfits are closing stores…..: “But it is confusing on your part because you are and have for a while now, admitted that people think…” Dec 26, 19:24
jamesb on The Economy is doing Soooo Good these outfits are closing stores…..: “Trump GETS THIS Economy in less than 30 days…. His whinning and crying will be NO more successful that Biden….…” Dec 26, 19:19
jamesb on Donald Trump has promised MORE than he can EVER Deliever…Open Thread for Dec. 10. 2024….: “Those people are fucking THEMSELVES and ARE STUPID… Like Jack says? They desreve what they get….Or LOSE” Dec 26, 19:15

A strong economy held up by consumer borrowing/debt?

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