Wells Fargo reports a surge in U.S. consumer credit card debt, indicating potential financial stress among households.
  • huquad@lemmy.mlEnglish
    6·
    10 months ago

    This is definitely an order of magnitude calculation, but doesn’t that correspond to $60 per person in the US? Is this big number scary article?

    • TheFonz@lemmy.world
      5·
      10 months ago

      Depends. Are you dividing by total population or actual cc holders? Because the latte isn’t as big.

      • huquad@lemmy.mlEnglish
        3·
        10 months ago

        Stats from some googling. Assuming there are 250 million adults in US, and 80% have credit cards, that gives me 200 million holders, or ~$100 per person. That’s not really a whole lot of money anymore. Not in a world where taco bell costs $20.

          • huquad@lemmy.mlEnglish
            2·
            10 months ago

            Agreed. The article also includes a consumer debt trend over time. It seems to outpace inflation by about 33% which is more noteworthy to me.