Consumer borrowing cratered further in November, likely reflecting growing consumer stress, as price inflation persists and credit cards become maxed out.

That’s bad news for a U.S. economy that depends on consumers buying stuff. Persistent price inflation forced Americans to blow through their savings and then turn to credit cards to make ends meet. However, consumer borrowing has slowed significantly this year, indicating Americans may be maxing out the plastic.

The slowdown in borrowing also reveals why so many people are pushing for further interest rate cuts despite price inflation still well above the Fed’s stated target. They want to pump up borrowing to stimulate the economy.

After climbing at a tepid 2.2 percent rate in October, consumer debt grew at an even slower pace of 1 percent in October, according to the latest data from the Federal Reserve.

The 4.1 billion increase pushed total consumer debt to $5.08 trillion.

The Federal Reserve consumer debt figures include credit card debt, student loans, and auto loans, but do not factor in mortgage debt. When you include mortgages, U.S. households are buried under a record $18.59 trillion in debt.

Over the last several months, the growth of revolving credit, primarily reflecting credit card balances, has slowed significantly. After climbing modestly in October, credit card spending cratered in November. Revolving debt fell by $2.1 billion.

KPMG recently reported that the slowing growth of revolving credit likely reflects a drop in borrowing and spending by the bottom 80 percent of U.S. households “that are increasingly stressed.”

https://citizenwatchreport.com/debt-data-continues-to-signal-deep-consumer-stress/

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Architecture Of Plunder: Why The Modern Democratic Party Is A Kleptocracy

The modern Democrat Party is not merely a political coalition; it is a syndicalist engine of wealth extraction. It has evolved beyond the crude graft of Tammany Hall, where votes were bought with turkeys and beer, into a highly complex "NGO-industrial complex" that launders public treasury funds into private political power. They are not governing. They are looting. And they have built a moral fortress around their theft so that to question the robbery is to be branded a heretic.

"The modern kleptocrat does not break the law; he writes the law to make his theft mandatory." To understand this, we must strip away the veneer of "public service" and look at the mechanics of the machine. We must observe how the Managerial Elite has perfected a system where the decline of the American middle class is not an accident of history, but the direct, mathematical result of their enrichment.

https://www.zerohedge.com/political/architecture-plunder-why-modern-democratic-party-kleptocracy

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"Paramount only hit 1,300 live viewers during free YouTube premiere of woke new Star Trek show"

https://citizenwatchreport.com/paramount-only-hit-1300-live-viewers-during-free-youtube-premiere-of-woke-new-star-trek-show/

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