$1 Trillion Time Bomb: Are American Consumers Getting in Trouble Again?
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The economy depends on them, but they’re cracking. American consumers are holding $1 trillion in revolving credit, mostly in credit card debt. So how well is this segment of consumer debt holding up? Synchrony Financial – GE’s spin-off that issues credit cards for Walmart and Amazon – disclosed on Friday that, … Read more