DEBT SLAVERY: US HOUSEHOLD DEBT REACHES ALL TIME HIGH OF $13.6 TRILLION

Wednesday, May 22, 2019
By Paul Martin

Mac Slavo
May 22nd, 2019
SHTFplan.com

As the economy frays, companies close retail stores, and other layoff workers, Americans are going further into debt. In fact, the United States household debt has now reached all-time record highs.

According to the Federal Reserve’s Quarterly Report on Household Debt and Credit, household debt increased for the 19th consecutive quarter to $13.67 trillion. This increase in debt was “boosted by increases in mortgage, auto, and student loan balances,” the report explained.

U.S. household debt has hit yet another all-time high, with about $97 trillion in housing debt and about $4 trillion in non-housing debt.

This news comes as the auto industry is showing major signs of economic distress. Auto loan delinquencies, which millennials, in particular, have been struggling with, also rose slightly. Ford has announced layoffs and unsold cars are sitting in the parking lots of what used to be vibrant and bustling retail establishments. But don’t worry, because the media still says that the economy is doing just fine.

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