Quoted By:
>US consumer credit jumped by $6.4 billion to a record $5.05 trillion in April. Credit card debt was roughly unchanged at all-time highs of $1.34 trillion. In just 3 years, credit card debt has surged by $368 billion, or 38%.
>Meanwhile, credit card debt serious delinquency rates of 90+ days have are up to 6.9%, the highest in 13 years. This comes as interest rates on credit card debt have risen from 15% to 25% in just 3 years
Holy fuck. Wasn't consumers being retarded with credit one of the key factors that lead to the 1929 crash?
