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Depreciating Cars and Expensive Diplomas Fueled By Easy Debt

from MyBudget360.com:

New data from the Federal Reserve continues to highlight a reemergence of debt based consumer spending.  Americans are largely buying stuff they can’t afford with money they don’t have.  The Fed’s consumer credit report highlights a troubling trend.  Over the last 12 months 95 percent of all consumer debt growth has come from people buying cars and young Americans going deep into debt to pursue a college education.  A car quickly loses its value once it drives off the lot and many college degrees are massively over valued only being supported by easy financing.  This is a disturbing trend, even more troubling than the last debt fueled bubble.  One can argue with housing that at least people are getting an asset that generally rises with inflation.  But a car?  A for-profit degree?  The debt juice is now flowing once again.

Read More @ MyBudget360.com

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