Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 6 months ago

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

FourteenEyes [he/him]@hexbear.net · 6 months ago

There’s lots of work being done so people are being paid, it’s just that this work is not productive so the money generated by other actually productive sectors of the economy is essentially being put in a big pile and lit on fire

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

The great American boom is finally running out of steam, leaving mountains of debt