The New CS Board

[jumanji0881]

Consumer Credit Soars Most On Record As Credit Card Borrowings Hit An All Time High : https://www.zerohedge.com/markets/consumer-credit-soars-most-record-credit-card-borrowings-hit-all-time-high

My Comment : All of the debt will make the next recession worse than ever

Excerpt:
After several months of subdued increases in consumer credit, moments ago the Fed reported that in June, total consumer credit surged by the most on record, soaring by $37.69 billion, nearly double the consensus estimate of $23 billion. The monthly increase was a whopping 10.6% SAAR, pushing the total to a new record high of $4.319 trillion.

What was behind this stunning surge? Well, just as stimmies ran out, US household decided to shift from debit to credit cards, and splurged to a never before seen pace, pushing revolving credit, i.e., credit card debt, higher by a whopping 17.9$ billion, the biggest monthly increase on record, and pushing the total revolving debt back to just shy of $1 trillion or $992.2 billion.