Credit Card Update: Rates Up, Outstandings Surge, Households Broke

Fact is 58% of Americans have less than $1,000 in savings. Large swaths of the American population are at the edge of trouble: “27% of adults would need to borrow or sell something to pay for an unexpected expense of $400. One quarter of adults have no retirement savings, and skipped necessary medical care in 2018 because they were unable to afford the cost”.

 

 

 

 

 

 

 

 

https://northmantrader.com/2019/07/25/credit-card-splurge/

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.