The longer the Fed keeps raising interest rates while using their balance sheet to bail out banks and the ultra wealthy, the more deeply buried the middle class becomes trying to borrow their way through inflation.
Personal interest payments: pic.twitter.com/UdeKfTTszD
— Mac10 (@SuburbanDrone) August 10, 2023
US Core CPI is still at a staggering 4.7%
The Fed is likely to keep rates “higher for longer” in order to curb inflation pic.twitter.com/P7ZzhFlWMC
— Game of Trades (@GameofTrades_) August 10, 2023
US Credit Card Debt Surpasses $1 Trillion As Americans Continue To Struggle From Inflation
Under the weight of soaring inflation, attributed to Bidenomics, US citizens are being forced into deeper credit card debt, which has alarmingly surpassed the $1 trillion benchmark. Mismanagement by The Federal Reserve coupled with reckless Federal spending has been a significant driver of this economic quagmire, with core inflation stubbornly remaining at a high 5.63%. Drawing a parallel between credit card debt and The Fed’s balance sheet reveals the depth of the crisis. Moreover, the combined weight of credit card and auto loan balances has skyrocketed to an unprecedented $1.6 trillion.
It’s not the 1970s but stagflation is back in the pictureNews