Tapped-out consumers resorted to credit card liquidity to make ends meet in December.

America needs a rescue plan…

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Consumer Credit Unexpectedly Surges By Most On Record Despite All-Time High APRs

ZeroHedge, Feb 07, 2025 – Excerpts:

…. US consumers exited 2024 with a bang after Consumer credit soared by a record $40.8 billion in December, a complete reversal of the $5.4 billion November drop, and a month that sticks out like a sore thumb in the history of consumer credit as shown below.

The December print is all the more remarkable when considering that Wall Street consensus was for a $14.6BN consumer credit print. This means that the actual number was a 4 sigma beat to expectations, the biggest on record for this particular data series……..

Taking a closer look at the number, while non-revolving debt (i.e. student and auto loans) rose modestly as it always does rising by $18 billion, it was revolving, or credit card debt, that cratered soared by a whopping $22.3 billion, a remarkable reversal to the $14 billion drop in November which was the biggest drop since the covid crash shut down the economy, and the biggest monthly increase on record.

And while last month’s unexpected drop could at least have been explained with the fact that credit card APRs were at all time highs (currently 23% up almost 10% from a decade again), the fact that APRs remained there just under a record high certainly does not explain why US consumers scrambled to max out their credit cards at the end of 2024, just as their savings accounts hit the lowest level in years.

While the surge in credit card usage may explain the burst in spending to end the year, there is only so far that an economy can be pushed with maxed out credit cards.

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According to the latest report, Household Deb has reached $17.94 trillion.

Federal Reserve Bank of New York – Q3 2024

There is only one plan in the world right now with the power to get this debt tsunami back under control – and set America back on track for societal contentment and economic prosperity.

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$90,000 per U.S. citizen – Leviticus 25 Plan 2026 (25034 downloads )