American consumer debt has surpassed 17 trillion for the first time ever credit card debt continues to go up. We're seeing this more concentrated in that middle and working class arena. People who are wealthy are able to kind of shift around and make some different decisions about how they allocate their spending. But when you have to go to the grocery store or pay your rent or whatnot, it's really put people in a tough position.
Americans are experiencing a “personal recession” with debt hitting its highest levels in history. Rising mortgage rates and institutional buyers have all combined to disrupt the American dream of home ownership. In this episode we speak to recovering investment banker Carol Roth, author of You Will Own Nothing about how Wall Street is benefitting at the expense of the average American. Get the facts first on Morning Wire.