More Debt-As-Good-News Propaganda

Bloomberg reports: Consumer borrowing rose in October by the most in five months as credit-card use picked up and Americans took out more loans for car purchases and education. The $18.2 billion increase in credit followed a revised $16.3 billion gain in September that was more than initially reported, the Federal Reserve said today in Washington. The median forecast in a Bloomberg survey of economists called for a $14.5 billion advance. Credit-card borrowing rose by the most since May as job Read more […]

This Can’t End Well: Debt Slaves Won’t Make Effective Freedom Fighters

I always thought that the main reason why people build up consumer debt is a rosy view of the future. If you are confident that you are only going to become more prosperous, that naïve confidence can lead a person to make irrational decisions. But I must be mistaken. A majority of Americans with 401(k)-type savings accounts are accumulating debt faster than they are setting aside money for retirement, further undermining the nation’s troubled system for old-age saving, a new report has found. Three Read more […]