Warning Signs: consumer debt climbs higher
I know the topic on everyone's mind is the Federal debt, but what many do not know is just how bad the US consumer debt has also skyrocketed. What does this mean for the economy? It could mean huge problems - especially if interest rates rise.
Notice how the very ideas of individual responsibility, and that your individual choices which you make mostly determine your future, are being attacked quite viciously.
I am seeing people on the street with high end phones and it seems EVERYONE has it.
Regarding the car delinquencies: the article details how people are going for too many extras which drives up the monthly payments. It is easy to reach for the sky but you may plummet to Earth when your ladder is not long enough.