by John Rubino, Dollar Collapse:
As incomes stagnate and prices rise, a growing number of Americans face a tough choice: either descend a couple of rungs on the lifestyle ladder or borrow to keep it together. Many are apparently choosing door number two. From MarketWatch:
Americans are getting into debt to afford food, gas
Nowhere has the unequal nature of the post-banking-crisis recovery raised more concerns for the long-term sustainability of the U.S. economy than in the clear rise of non-discretionary consumer credit.
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