(Activist Post) While it is traditionally viewed as a B-grade indicator, the March consumer credit report from the Federal Reserve was an absolute shocker and confirmed what we have been saying for months: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card fueled spending spree.
Credit Numbers
Shocking Consumer Credit Numbers: US Credit Card Debt Soars Most On Record With Savings Long Gone
(Tyler Durden) While it is traditionally viewed as a B-grade indicator, the November consumer credit report from the Federal Reserve was an absolute stunner and confirmed what we have been saying for month: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card fueled spending spree.