Sunday, March 7, 2021

Tag: Are Consumers Nearing the End of Their Road of Debt?

Are Consumers Nearing the End of Their Road of Debt?

by Peter Schiff, Schiff Gold:

Are consumers getting close to the end of their road of debt?

There are some indications that they might be and that’s not good news for an economy built on consumers spending money they don’t have.

Total consumer debt grew and set yet another new record in November, according to the most recent data released by the Federal Reserve. But the rate of growth slowed and credit card debt contracted slightly for the third month out of the last four.