2min chapter

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Do Valuations Matter? (EP.320)

Animal Spirits Podcast

CHAPTER

The Effects of Credit Card Debt on the Economy

Credit card debt has gone since the Q4 of 2019 before the pandemic from 927 billion to 1 trillion. GDP is up $6 trillion. Total household net worth has gone from 110 trillion to 141 trillion. People will say, well, sure, the 1% is gained a lot of wealth. But what about people on the low end? Those are the ones who are using credit cards.

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