Consumer credit card debt has reached a record $1.277 trillion, and this debt is being used not for investment or business purposes, but to bridge the gap between flatlined earnings and skyrocketing cost of living, indicating that families are relying on debt as a survival mechanism rather than a tool for financial growth.
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Debt Isn't for Luxury Anymore. #debtslavery #creditcarddebt #financialcrisis #systemfailureAdded:
So, how exactly are families surviving if they can't even afford the basics?
Well, they're bridging the gap with debt. Consumer credit card debt has just hit an absolute record, 1.277 trillion dollars. And here's the kicker, this isn't money being invested to build businesses or something. This is debt being used just to literally survive the gap between flatlined earnings and a skyrocketing cost of living.
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