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East of Broken Bow | But if everyone is so wealthy, why has debt risen so dramatically?
https://schiffgold.com/key-gold-news/total-household-debt-charts-big...
After charting its biggest increase since 2007 in the third quarter, household debt surged again in Q4 as Americans try to borrow their way out of the squeeze soaring price inflation has put on their wallets.
Total household debt rose by $394 billion in the last quarter of 2022, according to the latest New York Fed Household Debt and Credit report. It was the biggest quarter-on-quarter rise in two decades.
Total household debt increased by 8.5% in 2022 and now stands at a record $16.9 trillion. That’s $2.75 trillion higher than it was pre-pandemic. | |
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The main reason Interest rates will go unchanged through November
