This chapter discusses the current state of credit card debt, highlighting its all-time high of $1 trillion. It explores the factors contributing to this increase and the potential challenges it poses for discretionary spending. The chapter also addresses the issue of high interest rates charged by credit card companies and the lack of consumer education regarding these rates.
Credit card debt and interest rates hit all time highs this year. (00:21) Ricky Mulvey and Bill Barker look at the implications for companies and investors. They discuss: - Macy’s and Nordstrom charging 32% APRs for retail cards. - Historical context on rising delinquencies. - Best Buy’s quarter, and sales slowdown. Plus (12:34) Robert Brokamp and Matt Frankel discuss what to do if your consumer debt is getting more expensive.
Companies discussed: BBY, M, JWN, DFS
Host: Ricky Mulvey Guests: Bill Barker, Robert Brokamp, Matt Frankel Engineers: Dan Boyd, Rick Engdahl
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