Broke, But Full Of Hope - Is This The Scariest Chart In The World?
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Title : Broke, But Full Of Hope - Is This The Scariest Chart In The World?
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You are now reading the article Broke, But Full Of Hope - Is This The Scariest Chart In The World? With link address https://newstoday-ok.blogspot.com/2018/01/broke-but-full-of-hope-is-this-scariest.html
Title : Broke, But Full Of Hope - Is This The Scariest Chart In The World?
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news-today.world | American consumers are not only feeling good... They’re feeling great. They’re borrowing money – and spending it – like tomorrow will never come.
[ZH: In other words, Americans are broke but full of hope...]
On Monday the Federal Reserve released its latest report of consumer credit outstanding. According to the Fed’s bean counters, U.S. consumers racked up $28 billion in November in new credit card debt and in new student, auto, and other non-mortgage loans. This amounted to an 8.8 percent increase in consumer borrowing. It also ran total outstanding consumer debt up to $3.83 trillion.
Perhaps this consumer spending binge will finally propel price inflation, as measured by the personal consumption expenditure (PCE) deflator, up to the Fed’s illusive 2 percent target. Academic economists and central planners consider 2 percent price inflation to be the sweet spot for attaining economic heaven on earth. We have some reservations.
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[ZH: In other words, Americans are broke but full of hope...]
On Monday the Federal Reserve released its latest report of consumer credit outstanding. According to the Fed’s bean counters, U.S. consumers racked up $28 billion in November in new credit card debt and in new student, auto, and other non-mortgage loans. This amounted to an 8.8 percent increase in consumer borrowing. It also ran total outstanding consumer debt up to $3.83 trillion.
Perhaps this consumer spending binge will finally propel price inflation, as measured by the personal consumption expenditure (PCE) deflator, up to the Fed’s illusive 2 percent target. Academic economists and central planners consider 2 percent price inflation to be the sweet spot for attaining economic heaven on earth. We have some reservations.
More
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You are now reading the article Broke, But Full Of Hope - Is This The Scariest Chart In The World? With link address https://newstoday-ok.blogspot.com/2018/01/broke-but-full-of-hope-is-this-scariest.html