Americans rack up $19 billion in credit card debt in one month
Americans rack up $19 billion in credit card debt in one month
Wells Fargo reports a surge in U.S. consumer credit card debt, indicating potential financial stress among households.
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This is definitely an order of magnitude calculation, but doesn't that correspond to $60 per person in the US? Is this big number scary article?
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Depends. Are you dividing by total population or actual cc holders? Because the latte isn't as big.
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That's an espresso way to debt central that's for sure
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Mocha money mocha problems amirite
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Stats from some googling. Assuming there are 250 million adults in US, and 80% have credit cards, that gives me 200 million holders, or ~$100 per person. That's not really a whole lot of money anymore. Not in a world where taco bell costs $20.
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Ya I just checked and you're right. However, we could still infer certain trends.by examining the shift
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Agreed. The article also includes a consumer debt trend over time. It seems to outpace inflation by about 33% which is more noteworthy to me.
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