Never ends well when credit card debt skyrockets

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  • Higher Interest Payments: Credit card debt often comes with high interest rates, which can compound quickly, making it more expensive to pay off the debt.
  • Credit Score Impact: High levels of debt can negatively affect credit scores, making it harder to obtain loans or favorable interest rates in the future.
  • Financial Stress: Managing large amounts of debt can cause significant stress and anxiety, impacting overall well-being.
  • Limited Financial Flexibility: High debt levels can restrict financial flexibility, making it difficult to save for emergencies or future goals.

 

2 years since the yield curve inverted. US economy held up by unprecedented fiscal stimulus. But is it possible to keep up growth with the structural and social imbalances in the US by adding debt and federal stimulus?

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