Escaped Wage Slave

Escaped Wage Slave - Wisdom No One Wants - a big fat I Told You So project - Battling IOMS (Grandpa Simpson Disease) - Don't call me 'white'. - Dance, please - mass shootings in Chicago don't count - Keep your head up, Michael - Henry, thanks for the bump - Where's Hitler's scrotum? - NICE! - I get an 'A', Professor? - She's a MAN - No intelligent life outside my fishbowl - Wesley Everest has died. He was afflicted with a deep sense of attachment that led to nothing.

Wednesday, May 16, 2018

Invisible Chains of Debt

The State of the American Debt Slaves, Q1 2018

https://wolfstreet.com/2018/05/08/consumer-credit-auto-revolving-student-loans-q1-2018/

After the party, the hangover.

Total consumer credit rose 5.1% in the first quarter, compared to a year earlier, or by $184 billion, to $3.824 trillion (not seasonally adjusted), according to theFederal Reserve. This includes credit-card debt, auto loans, and student loans, but not mortgage-related debt. That 5.1% year-over-year increase isn’t setting any records – in 2011, year-over-year increases ran over 11%. But it does show that Americans are dealing with the economy and their joys and woes the American way: by piling on debt faster than the overall economy is growing.