Over the past three months, the year-over-year growth in credit card debt has exceeded wage growth in the United States. This is the first time we’ve seen this trend since the Great Recession. While it clearly indicates improved US consumer confidence (and the spending helps boost China’s economy), in the long run this is not going to be sustainable.
 |
| Year-over-year growth in credit card deb minus growth in average hourly wages |
_________________________________________________________________________
Sign up for our daily newsletter called the Daily Shot. It’s a quick graphical summary of topics covered here and on Twitter (see overview). Emails are distributed via Freelists.org and are NEVER sold or otherwise shared with anyone.
From our sponsor: