5min chapter

Coin Stories with Natalie Brunell cover image

Danielle DiMartino Booth: Economic Storm and Debt Collapses Approaching

Coin Stories with Natalie Brunell

CHAPTER

The Paradox of Credit Card Debt and Saving Behavior

In this chapter, they discuss the surprising trend of people running up their credit card debt instead of saving money, despite the expectation that higher interest rates would encourage saving. They delve into the reasons behind this behavior and the societal shifts that have contributed to it. They also touch on the impact of the pandemic and government stimulus checks on people's spending habits. Additionally, they mention the contrasting behavior of the wealthiest Americans who are saving even more in the current interest rate environment.

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