Commentary: Corporate Debt In America

   US corporations and consumers are increasing debt again despite high credit card interest rates, raising concerns about financial stability and emphasizing the need for responsible financial management.

  • Corporate Debt Trends: Corporations are accumulating debt again after a period of deleveraging following the 2008 financial crisis.

  • Consumer Debt Resurgence: Similar to corporations, consumers are also increasing their debt levels, reversing the trend of deleveraging seen in the late 2000s and early 2010s.

  • High Interest Rates: The average interest rate on credit card debt has risen to 17%, with penalties pushing rates as high as 23%, likened to legal loan sharking.

  • Financial Impact: Despite high costs, banks are profiting as consumers continue to accumulate debt, raising concerns about financial stability.

  • Financial Discipline: Advice emphasizes the importance of living within one’s means to avoid the pitfalls of high-interest debt and maintain financial health.

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