Credit Card Borrowing Still Running Hot Even as Borrowing for Big-Ticket Items Tanks

by Michael Maharrey, Schiff Gold: Americans continued to run up credit card debt in May, but borrowing for big-ticket items tanked. This could indicate that cash-strapped, over-leveraged consumers are reaching the end of the rope. American consumers borrowed another $7.2 billion in May, increasing total consumer debt to a record $4.865 trillion, according to the latest […]