Credit card debt tops $1T for first time

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I am so grateful to my wife and her Draconian savings plans, resulting in my debt free retirement. But what does this news mean for the country?

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This is what has been keeping the economy afloat in spite of the Feds actions. I suspect we are going to see a lot of repossessions of property in the near future.

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A lot of individual bankruptcies.

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How much of that credit card debt is for lifestyle carry vs. essential stuff like food and/or medical or even rent?

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