Consumer credit is right around where it was pre-pandemic if you adjust for how much the economy has grown. It’s high, but you need more than this to call it a bubble. This is just how the US economy works.
Americans as a whole charge more on their credit cards when the economy is doing well like it was pre-pandemic and like it is now. When they are uncertain about their jobs, they pay it down or buy less so it doesn’t increase.
Because buying shit is addictive, and credit card companies exploit people with poor impulse control. Most people don’t know how compound interest works either.
Consumer credit is right around where it was pre-pandemic if you adjust for how much the economy has grown. It’s high, but you need more than this to call it a bubble. This is just how the US economy works.
Americans as a whole charge more on their credit cards when the economy is doing well like it was pre-pandemic and like it is now. When they are uncertain about their jobs, they pay it down or buy less so it doesn’t increase.
I’ve never understood letting credit card balances ride unless you literally could not afford it. You’re just willingly paying more for things.
Because buying shit is addictive, and credit card companies exploit people with poor impulse control. Most people don’t know how compound interest works either.