Tuesday , February 25 2020
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Dead End Ahead—Consumers Are Reaching Debt Saturation Point

Summary:
The truth is American consumers have been driving the US economy with money they don’t have. If they are getting close to maxing out the credit cards, that doesn’t bode well for future economic growth. If that moment isn’t upon us yet, it will be at some point in the not-to-distant future.       […]

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The truth is American consumers have been driving the US economy with money they don’t have. If they are getting close to maxing out the credit cards, that doesn’t bode well for future economic growth. If that moment isn’t upon us yet, it will be at some point in the not-to-distant future.       […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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