Consumer Debt Sets Another Record

Today an estimated 59% of Americans live paycheck to paycheck, according to a recent Charles Schwab survey. But maintaining that lifestyle is an excellent way to increase your chances of racking up debt. Unfortunately, for many Americans, the paycheck-to-paycheck existence isn't a choice. Instead, it's the result of mounting living costs and stagnant wages. But no matter why you're trapped in that cycle, it's imperative that you try to bust out of it. If you don't, and you continue to leave yourself zero financial wiggle room, you'll most likely be forced to whip out a credit card the next time an unplanned bill hits you. And if you fail to pay off that credit card balance by the time it comes due, you'll start accruing interest, throwing your money away on payments, and hurting yourself even more. The simple story is this. The economy is damned. Nobody's paying attention to fundamental anymore. That's a proven fact. The Fed, Central Banksters, even the White House is all in on this scam. Only the one percent are benefiting right now. How long this charade continues is anyone's guess. This is the elite's last best attempt to wrestle away whatever is left from the middle class and bottom 90%. The "system" is gamed, the 1% are raping everyone as fast as possible. That said, people do not have to keep "buying things they don't need, with money they do not have". Starve the beast! Of course, that will never happen. Born and raised to consume. “Things are going to get worse before they get a lot worse.” Welcome to The Atlantis Report. Consumer debt set another record in September, but the pace of borrowing appears to be slowing. This could signal trouble for an economy built on American consumers spending money they don’t have. Total consumer debt grew by $9.5 billion in September, according to the most recent data released by the Federal Reserve. That represented an annualized increase of 2.8% and pushed total consumer indebtedness to a new record of $4.15 trillion (seasonally adjusted). The Fed consumer debt figures include credit card debt, student loans, and auto loans, but do not factor in mortgage debt.


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