The debt level for American’s is completely unsustainable. Most of the people need to use credit or they wouldn’t be able to survive. The amount of personal debt has increased dramatically. American’s have been resorting to payday loans to make ends meet. DR Horton reports that housing sales are declining because of the rising rates and skyrocketing housing prices. Peter Schiff says this economy has never recovered, the jobs numbers has been inflated by using debt and when everything falls apart it will be a disaster. The Fed is continuing its course, and will continue to raise rates, we are getting closer to the finale.
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