by Brittany Stepniak, Outsider Club:
Household debt – which includes mortgages, credit cards, car loans and student loans – rose $129 billion in the fist quarter, to $11.65 trillion.
That was the third consecutive quarterly increase.
And it’s really not shocking, when you consider the job market is still bad and prices are rising faster than wages, which are stagnant.
However, I was surprised to see that some economists heralded the new data as a postive sign for the economy, suggesting consumers are “more confident.”
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