by Peter Schiff, Schiff Gold:

Total household debt eclipsed $17 trillion for the first time ever in the first quarter of 2023 as Americans wrestle with persistent price inflation.

After charting the biggest rise in 20 years during the fourth quarter, household debt climbed again in Q1, rising by $148 billion. The 0.9% increase pushed total household debt to $17.05 trillion, according to the latest data by the New York Fed.

Since 2019, household debt has climbed by $2.9 trillion even with a big drop in credit card debt during the pandemic.