US consumer borrowing tops $4 trillion for first time

US consumer borrowing tops $4 trillion for first time

Consumer borrowing rose at a slower pace in December, yet it topped a new record above $4 trillion. The Federal Reserve said Thursday that borrowing increased by $16.6 billion in December after a $22.4 billion advance in November. The December increase took the total up to a record $4.01 trillion.

Simone
Simone
AshLiamBerg
AshLiamBerg 1 year

This bubble will burst one day ending in misery.

Root Beer
Root Beer 1 year

Subprime lending, rebranded and going strong.

Mr. A
Mr. A 1 year

No misery for the bankers. They'll get bailed out, every time.

Miles O'Brien
Miles O'Brien 1 year

MAGA! People have to use credit to pay for basic necessities. Time to realize that globalization means lower wages and part time jobs.

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