Consumer Borrowing Surged in June by Most on Record

Guard Dad

Guard Dad

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This is a bit concerning

www.newsmax.com

Consumer Borrowing Surged in June by Most on Record

U.S. consumer borrowing surged in June by the most on record, reflecting large increases in credit-card balances and non-revolving loans.Total credit jumped $37.7 billion from the prior month after an upwardly revised $36.7 billion gain in May, Federal Reserve figures...
www.newsmax.com www.newsmax.com
 
I recently bought a vehicle. The intention was to pay cash for it, and forget about it.
Instead, interest rates were something like 1.9%. That's very affordable money.

I also figured that with inflation still taking off, it was better to do something sooner rather than later.
 
MudFlap said:
I recently bought a vehicle. The intention was to pay cash for it, and forget about it.
Instead, interest rates were something like 1.9%. That's very affordable money.

I also figured that with inflation still taking off, it was better to do something sooner rather than later.
Click to expand...
Yeah, but you're rich.
 
MudFlap said:
I recently bought a vehicle. The intention was to pay cash for it, and forget about it.
Instead, interest rates were something like 1.9%. That's very affordable money.

I also figured that with inflation still taking off, it was better to do something sooner rather than later.
Click to expand...
Good point! Even in normal inflationary times things will never be this cheap again, so buy if you have cash. If you can get an interest rate lower than or equal to inflation, Buy, Buy, Buy,,, which is what the masses seem to have done.
 
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