U.S. Credit Card Debt Hit Record $870 Billion

By: Curtis Wayne   3/5/2019

At the end of last year, the US credit card debt hit a new record, not seen since 2008.

According to a new report, ".. credit cards were the fourth-largest portion of consumer debt in the U.S. after mortgage, student loan and auto debt."

All four major consumer debt instruments are now in record territory.  The bubble economy has been re-established in the mind of the consumer.

The recession will not hit the US until the consumer taps out and stops increasing debts.  The housing and auto markets are just beginning to pull back, but the student loans and credits cards are still climbing.

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