Pullback in Consumer Spending from High Credit Card Debt Posses Risk to Economy.

[bjl584]

U.S. consumers to wake up to ‘out of control’ card interest: economist (cnbc.com)

[disneysteve]

Talking heads have been predicting a recession for the past couple of years, if not longer. Eventually they'll be right.

[ua_guy]

The article mentioned a slowdown in the job market. I tend to agree. At some point, growth is unsustainable. The GDP can't be grown by over 5% every year. Jobs can't continue to grow at the rate they have been when unemployment is reaching record lows. A slowdown in the rate of growth does not necessarily indicate an upcoming recession. We have an arguably good economy right now, and an arguably bad messaging problem.

I think all the hype about credit card debt needs to also be tempered by the same fact that is being discussed about very strong holiday sales. Even adjusted for inflation, the figures are indicating a lot of net new spending. More people are spending money. It's not just the same people taking on more debt because of higher prices or higher consumption.