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Do Valuations Matter? (EP.320)

Animal Spirits Podcast

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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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