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RE: Holiday Spending Pushes US Credit Card Debt Over $1 Trillion
@doitvoluntarily, the world is awash in debt and this trend will continue as all fiat currency comes into existence as debt. This is just personal debt, if you add in the debt/deficit the gov't has created on behalf of its citizens, we can easily add a 5-10 time multiple to individual debt levels. This system is not sustainable and will collapse under it's own weight, or we enter a hyperinflationary period where debts get paid by inflated fiat currency. This is setting up to be a very ugly period in the financial markets again, look for 2019 and 2020 to be the worst part of what is coming down the road. It's best to get your financial house in order, trade the cryptos and own physical precious metals.
wonder if its even significant.
The debt is significant at a personal level, the gov't debt is pretty much insignificant until the creditors put a stop to it. The creditors to gov't debt and bonds are stuck and can't call in the loan or the whole system collapses, so they just diversify and take real assets as payment. This is why gold and silver will start to gain traction again this year, I wouldn't doubt if we see new highs in the precious metals within a couple of years or sooner.
even at a personal level though i think it depends what you use the money for.