Proof The Bible Is True

“How much of this is due to Covid lockdowns and firing those who refused The Jab? Who knows but it’s certainly looking bad for people in debt and the economy in general this year.” Admin

 

While it is traditionally viewed as a B-grade indicator, the November consumer credit report from the Federal Reserve was an absolute stunner and confirmed what we have been saying for month: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card fueled spending spree.

 

Here are the shocking numbers: in November, consumer credit exploded by a whopping $40 billion, double the expected $20 billion print, more than double the $16 billion October number, and the highest on record!

 

Read More: Shocking Consumer Credit Numbers: US Credit Card Debt Soars Most On Record With Savings Long Gone | ZeroHedge