Americans In More Debt Than Ever Before
Americans In More Debt Than Ever Before
Americans In , More Debt, Than Ever Before.
According to CNN, American's debt have risen to an all-time high.
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The Federal Reserve Bank of New York says between July and September, household debt in the US rose to $15.24 trillion.
Mortgages make up the majority of debt in the United States.
They rose $230 billion last quarter.
Credit card balances went up by $17 billion.
$123 billion less than the last generated pre-pandemic statistics.
Student and Auto loan balances have increased exponentially as well.
Student and Auto loan balances have increased exponentially as well.
Economists say in spite of inflation making goods more expensive, Americans continue to spend.
Economists say in spite of inflation making goods more expensive, Americans continue to spend.
Issues in the global supply chain have created this price disparity.
Issues in the global supply chain have created this price disparity.
Experts say consumer demand is through the roof.
Inflation data published November 9 shows manufacturers raised prices 0.6% in October.
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Inflation data published November 9 shows manufacturers raised prices 0.6% in October.
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Experts attribute this price increase to higher energy costs.
Economists say that businesses won't absorb this price increase much longer.
The burden will find the consumer.
Economists say that businesses won't absorb this price increase much longer.
The burden will find the consumer
