Credit Card and Student Loan Debt Magnify the American Economic Downward Spiral!

Do you think a large percentage of people are paying for things with debt and carry a balance?

Today we have a record amount of debt on all levels. Whether it’s the national debt, corporate debt, or personal debt, it’s all compounding, weighing down on everyone. Today, we have the most excessive levels of debt ever seen before and this cannot be sustained indefinitely. It must end with pain. Unfortunately, people take too much risk and just like the human body detoxifies, the financial system needs a periodic Economic Detox.

 

Total Revolving Credit Owned and Securitized, Outstanding | FRED | St. Louis Fed

fred.stlouisfed.org/series/REVOLSL

Credit Card Debt Study: Trends & Insights

wallethub.com/edu/credit-card-debt-study/24400/

2019 Money Matters on Campus Report | EVERFI

everfi.com/insights/white-papers/2019-money-matters-report/

Where People Are Most Likely to Have 5-Figure Credit Card Balances

www.comparecards.com/blog/places-people-5-figure-credit-card-balances/

 

 

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