Despite The Fed signaling rate-cuts as far as the eye can see, US credit-card interest rates have soared to the highest since 2001.
And despite credit card rates being at 18-year highs, US revolving debt (largely made up of credit card debt) has exploded in July to its highest on record.
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Fed cuts rates to stimulate the housing market and boost property values and allow for small business to grow. The credit sharks jump on it and convince consumers to borrow from creditors to buy stuff they don’t need... at a hefty price. Consumer gets new jordans... creditor gets new benz. The circle of liberal life
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