Overdue Credit Card Debt Approaches 20-Year High -- While Interest Rates Skyrocket
Here's a frightening chart.
Credit card debt hasn’t looked this grim since the Great Recession.
From The Economist:
At the same time, the personal savings rate of American’s is hovering near an all-time low:
But then again, the savings rate is always pretty low in the USA. 😅
👉 Meanwhile, Warren Buffett is selling of his stocks and hoarding cash to the tune of $330 billion. These two negative signals taken together almost make me want to start buying bonds.