US credit card debt is the bubble no one's talking about. Except maybe the very people causing the problem.
“To that end, the latest quarterly report (for the second quarter of 2024) from the Federal Reserve on household debt noted that overall indebtedness was up in the quarter by 0.6%, reaching an aggregate of $17.8 trillion.
To get some perspective on just how much debt has been piled on through the last few years, we’ve loaded $3.7 trillion of card-related and other loans since before the pandemic.”
https://www.pymnts.com/consumer-finance/2024/fed-data-shows-9-1-of-credit-card-balances-hit-delinquency-status-this-year/
shawn / Shawn⚡️
npub1cl…upup9
2024-08-07 11:35:33
Author Public Key
npub1clk6vc9xhjp8q5cws262wuf2eh4zuvwupft03hy4ttqqnm7e0jrq3upup9Published at
2024-08-07 11:35:33Event JSON
{
"id": "e3f1db67fbbca1d4ea72fbe897316ce0e836838fd7bc51f3c558a893d3559209",
"pubkey": "c7eda660a6bc8270530e82b4a7712acdea2e31dc0a56f8dc955ac009efd97c86",
"created_at": 1723030533,
"kind": 1,
"tags": [],
"content": "US credit card debt is the bubble no one's talking about. Except maybe the very people causing the problem.\n\n“To that end, the latest quarterly report (for the second quarter of 2024) from the Federal Reserve on household debt noted that overall indebtedness was up in the quarter by 0.6%, reaching an aggregate of $17.8 trillion.\n\nTo get some perspective on just how much debt has been piled on through the last few years, we’ve loaded $3.7 trillion of card-related and other loans since before the pandemic.”\n\nhttps://www.pymnts.com/consumer-finance/2024/fed-data-shows-9-1-of-credit-card-balances-hit-delinquency-status-this-year/\n",
"sig": "1ef16d63171592ea879e1f382a28d56207ad4eace5f391f0249d51d50a1a8e2dee9f1175aade38e7e550e63f7a15b76bcb5af2e22b30f3281a2485be34f1ea11"
}