Graph of total US credit card debt, notice the spike over the last few months?

submitted by magnora7 from lendingtree.com

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[–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

People are used to having money to spend with the Covid cash. The money is still floating around, but it is drying up in the hands of the average American.

[–][deleted]  (1 child)

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    [–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

    You didn't apply. Most was given to companies to keep people employed through payroll bailouts. A lot was given to boost unemployment checks. This is one of the reasons guns and ammo sales went crazy, along with the BLM riots. Also, people paid off their credit cards with the extra money. Even though that income stream has dried up, people are still spending (or were until very recently).