Monday, November 27, 2017

Americans’ household debt has surged by $605B this year

Image result for retail debtThe huge surge in total US household debt is now a record $12.96 trillion and a harbinger of recession, some analysts say.

The latest New York quarterly Fed data paints a dire picture: US household debt has grown by $605 billion in the past 12 months, with $116 billion, or nearly 1 percent, hitting in the latest quarter. Debt is mushrooming everywhere — on mortgages, student loans, auto loans. Credit card debt, meanwhile, has jumped by 3.1 percent in the latest quarter.. . . more

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