43 percent of credit card holders carry a balance. Delinquencies are rising. It's a deflationary debt trap.
Revolving Credit Hits New Record High
In December, revolving debt has topped the previous high-water mark of $1.021 trillion set in April of 2008. Debt as of December 2017 (the latest available) is $1.028 trillion.
Relationship Killer
In addition to student loans, credit card debt is another factor holding down home ownership and family formation. Studies show Credit Card Debt is a Relationship Killer.
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A trifecta of events had set him off in a way that two officials said they had not seen before: Hope Hicks' testimony to lawmakers investigating Russia's interference in the 2016 election, conduct by his embattled attorney general and the treatment of his son-in-law by his chief of staff.
Trump, the two officials said, was angry and gunning for a fight, and he chose a trade war, spurred on by Commerce Secretary Wilbur Ross and Peter Navarro, the White House director for trade—and against longstanding advice from his economic chair Gary Cohn and Treasury Secretary Steve Mnuchin.
The American dream is not for everyone.It never was.One can be an American and dream just like everyone else,but the heavens don't open up for everyone,nor do the trumpets blow.There is no shame in blending in.
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