Credit Card and Student Loan Debt Magnify the American Economic Downward Spiral!
Today we have a record amount of debt on all levels. Whether it’s the national debt, corporate debt, or personal debt, it’s all compounding, weighing down on everyone. Today, we have the most excessive levels of debt ever seen before and this cannot be sustained indefinitely. It must end with pain. Unfortunately, people take too much risk and just like the human body detoxifies, the financial system needs a periodic Economic Detox.
Total Revolving Credit Owned and Securitized, Outstanding | FRED | St. Louis Fed
https://fred.stlouisfed.org/series/REVOLSL
Credit Card Debt Study: Trends & Insights
https://wallethub.com/edu/credit-card-debt-study/24400/
2019 Money Matters on Campus Report | EVERFI
https://everfi.com/insights/white-papers/2019-money-matters-report/
Where People Are Most Likely to Have 5-Figure Credit Card Balances
https://www.comparecards.com/blog/places-people-5-figure-credit-card-balances/
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