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A comment on Credit card debt tops $1 trillion, trapping even six-figure earners. Parent comment

Re:Credit card debt tops $1 trillion, trapping even six-figu... by autokad on Wednesday August 09, 2023 @01:13PM (#37065726)
I think GDP may not be the best representation to how well people are doing, but debt as a % of personal income seems to tell the same story: https://fred.stlouisfed.org/series/TDSP

Its a bit surprising given observational evidence. right now people seem to be spending at any cost and have run dry. now we are to the point every other weekend the bars/pubs are empty because people already spent their money, and the next week its packed because they got paid.

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Re:Credit card debt tops $1 trillion, trapping even six-figu... by skybrian on Wednesday August 09, 2023 @01:23PM (#37065880)
That looks to me like personal debt is almost where it was before the pandemic? Slightly lower, but will it last?

But that nearly straight line at 10% after 2008 is interesting. It seems like there must have been a big change in behavior?

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Re:Credit card debt tops $1 trillion, trapping even six-figu... by tootie on Wednesday August 09, 2023 @01:56PM (#37066313)
It's not really meant to correlate tightly to personal wealth, but it's a proxy for inflation and at least loosely correlated with personal wealth.
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