If The Economy Is Better Why Are We So Broke?

1 year ago
20

More Americans are turning to credit cards to cover basic expenses as inflation rages. But we are being told the economy is better and the consumer strong, so in this video, I'll discuss the question, if the economy is better why are we so broke?

▶ TIME STAMPS

00:00 If The Economy Is Better Why Are We So Broke?
00:33 Importance Of Knowing Basic Inflation Facts
3:23 Majority of Americans Using Credit Cards
4:35 Consumer Debt Crisis
9:23 Outro

▶ VIDEO NOTES

More Americans turning to credit cards to cover basic expenses as inflation rages -

Read the article - https://www.foxbusiness.com/money/more-americans-turning-credit-cards-cover-basic-expenses-inflation-rages

Consumers are piling on credit card debt, flashing signs of a potential crisis
Signs of a looming consumer debt crisis are flashing.

After a year of soaring prices for everyday goods and interest rate hikes, Americans are increasingly leaning on credit cards to make ends meet. And although pandemic-era stimulus payments were able to keep delinquencies at bay by bolstering household savings for a time, those accounts have since dwindled.

Now, signs of a looming debt crisis among U.S. consumers are beginning to flash, and it is a triple whammy: credit card balances are at an all-time high, annual percentage rates (APRs) are up and more consumers are taking on debt than in 2021.

Read the article - https://www.foxbusiness.com/economy/consumers-piling-on-credit-card-debt-flashing-signs-potential-crisis

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▶ KEYWORDS
#useconomy #economiccollapse #economicnews

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