52% of us are maxed out on cards while wages get eaten by gas and groceries. Borrowing to survive?

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The U.S. workforce is running on a debt IV drip:

– 52% of Americans carry credit card debt with rates now in the high 20% range!!!

– Half don’t even know their interest rate Of those who think they do, half underestimate it.

– Revolving balances are at record highs.

– 20 years of wages losing to essentials: gas, groceries, housing.

– Personal loan market at largest TAM in history per LendingClub’s CEO.

Sounds more like the “strong consumer” is just borrowing to stand still.

And do we even bring in using BNPL for groceries into this?

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