After Years of “Stimulus” Come Surging Debt and Falling Wages

After Years of “Stimulus” Come Surging Debt and Falling Wages

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As interest rates rise on everything from mortgages to car loans to Treasurys, interest is also rising on credit card debt. That’s not exactly great news, as so many indicators point to a recession—and the worsening job situation that comes with it—on the horizon. Many Americans may soon find themselves with more debt and higher interest rates, all while real wages are falling. Earlier this month, Bankrate.com reported that the average credit card interest rate has climbed to 19.04 percent. That’s a thirty-year high and the highest rate since 1991, when the rate hit 19.00 percent. That can mean real...
Source: https://www.newswars.com/after-years-of-stimulus-come-surging-debt-and-falling-wages/