Over the past three months, the year-over-year growth in credit card debt has exceeded wage growth in the United States…for the first time since the Great Recession. While it clearly indicates improved US consumer confidence it is not going to be sustainable in the long run.
The above comments are edited excerpts from a post by SoberLook.com entitled Credit card debt growth exceeds wage growth in the US.
The following post is presented courtesy of Lorimer Wilson,
editor of www.munKNEE.com (Your Key to Making Money!),
and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds)
and has been edited, abridged and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.
The following chart comes from Sober Look.
|Year-over-year growth in credit card deb minus growth in average hourly wages
*http://soberlook.com/2014/08/credit-card-debt-growth-exceeds-wage.html (Content copyright 2009-2014. SoberLook.com. All rights reserved. Sign up
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