People are raiding their savings and racking up debt, paving the way for economic pain, expert warns

    https://www.businessinsider.com/economy-pomboy-consumer-spending-savings-debt-inflation-interest-rates-recession-2024-5

    Posted by FUSeekMe69

    3 Comments

    1. This has been the norm for some time America has been paycheck to paycheck for decades.

    2. jack_spankin on

      People expand their lifestyles when it’s cheap to do so through borrowing but don’t contract when it’s not chew anymore and that means more borrowing at higher rayes

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