The New CS Board

[jumanji0881]

Credit Card Debt Hits All Time High As Consumers Unleash Historic Shopping Spree : https://www.zerohedge.com/news/2018-01-08/credit-card-debt-hits-all-time-high-consumers-unleash-historic-shopping-spree

My comment: The US consumer will stop buying only when he has exhausted all of his credit. Watch the CC companies in the next recession.

Excerpts:
And now we have confirmation that this is precisely what happened, because in the month of November, between revolving, or credit card, and non-revolving debt, largely student and auto loans, according to the latest Fed data, total consumer debt rose by $28 billion, or the most since November 2001, to $3.827 trillion, an annualized increase of 8.8%, or roughly 4 times faster than the pace of overall GDP growth.

Broken down, consumer credit rose by $11.2 billion in revolving credit, or credit card debt, which pushed it a record $1.023 trillion, the highest credit card amount outstanding on record. This was also the second highest monthly increase in credit card debt on record.