American Families are Going into Debt at Record Pace

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November does not seem to be a good month for American consumers as we are seeing household debt jumping the most since 2008.

Now, this by itself would be kind of a bad indicator, just seeing household debt skyrocketing. But it’s even worse when you consider the fact that credit card rates and interest rates in general are surging right now.

Add on top of that the fact that many people are facing furloughs, their hours cut at work, many people are starting to get laid off now, especially in tech jobs.

Timecodes
0:00 Household Debt and Credit Card Rates Surge
0:32 Sponsor: iTrust Capital
2:40 Boom and Bust Cycles
4:02 Household Debt Adds on to Over 16 Billion
5:55 Credit Card Debt Rising to Troubling Levels

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#household #debt #inflation