One of the themesongs of Biden’s Bidenomics should be Credit Card (CC) Rider, since consumers are turning to credit cards to cope with high inflation (Bidenomics).
US credit card debt oustanding just passed the $1 trillion mark as consumers continue to struggle with effects of inflation. Caused by The Federal Reserve and insame Federal spending. Note that sticky core inflation is still at 5.63%.
If we look at credit card debt compare to The Fed’s balance sheet, we see the relationship.
Credit cards + auto loan balances are now over $1.6 trillion.
Biden is currently out west trying to sell Bidenomics while announcing prohibitions on uranium m
