And yet, our currency is still drinking everyone else's milkshake.

USA! USA!

I have been highly impressed with the American consumer’s ability to erode all their gained savings during COVID and pile on ever more credit card debt. 

American exceptionalism indeed. 

grayruby


Best part of the article right here...

> Joe Biden posted on X “Zero. That was monthly inflation in May. There is more to do still, but this is welcome progress.” Inflation was 3.3% in May, and services, shelter, and electricity increased by 5.3%, 5.4%, and 5.9%, respectively. A zero increase in June in the CPI reading is not zero inflation in the month.

🤡🌎

jeff

If you look at other data on what people are spending on, it looks like people are just really budget constrained.

At some point, something will have to give. Probably, it will be a lot of people moving into less expensive places.

Credit cards are never good when they accumulate debt. 
Its not free money, you still owe it. 

Satosora

The US consumer has been adding debt to maintain consumption, and credit card debt has reached new record levels. This is not a strong economy.

econ

By Daniel Lacalle
> The US consumer has been adding debt to maintain consumption, and credit card debt has reached new record levels. This is not a strong economy.