US household credit card debt hit a record $1.33 trillion in August. The combined average credit card balance across all age groups is now at whopping $10,668 PER household.
$1.33 trillion in credit card debt. That is not strength. That is panic. The average family owes $10,668. You can feel it in the lines at the grocery store, in the gas pump, in the monthly bills that never stop. Yellen says it shows “a strong consumer.” Families call it desperation. First Brands just collapsed. …