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American consumers continued to pile up debt on credit cards while borrowing for big-ticket items fell into the basement in August. This is the behavior of extremely financially stressed people. In August, the mainstream financial media breathlessly reported that the US economy was still “on strong footing,” as American shoppers continued “doling out cash” based […]
The post Credit Card Spending Spikes Again as Big-Ticket Borrowing Goes Flat first appeared on SchiffGold.