The Consumer Is Starting To Fail, Increasing Recession Risk
Wealthion - Be Financially Resilient
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Credit Card Debt in the US Hits New All Time High of 930 Billion
Inflation running at a forty year high. Real hourly wages have now fallen for each of the past 12 months straight. More than ten trillion dollars worth of extraordinary stimulus issued in the wake of the pendemic has now been turned off. The personal savings rate has fallen below its pre pandemic level, close to a ten year low. As their savings deplete, Americans are loading up on debt to keep their life styles going like never before.
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