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 - Where's Hitler's scrotum? - NICE! - I get an 'A', Professor? - No intelligent life outside my fishbowl - Wesley Everest has died. He was afflicted with a deep sense of attachment that led to nothing. No sense calling the Sheriff, that would be wasting everyone's time.

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.