Americans are throwing in the towel on credit card debt. Well, it just keeps getting worse and

worse, doesn't it? For months now, we've been talking on this channel about the state of consumer

debt in the United States. We've reported on high credit card balances, an all-time high

in delinquencies, how Americans' credit scores have fallen

for the first time in decades. As always, the mainstream media is putting a positive spin on this,

the corporate media, saying the economy's strong or that these trends aren't severe enough

to signal financial distress, but more and more data are confirming the truth. We don't need to

pretend this story has a happy ending or come up with a

narrative that makes people feel better about the mountains of debt. This credit card situation is

destroying Americans right now. So don't be surprised when you hear that the new Fed data that

just came out show that the growth of the credit card debt actually slowed in the first quarter.

Sounds like good news,

right? And it will probably be regarded as such in an echo chamber of corporate media. The truth is that while the growth did slow, Americans still added over $6 billion in liabilities to their column

in Q1 in the form of consumer debt. That's right. And we just got the latest

CPI numbers that shows that consumer prices continue to rise. So Americans are going to go further

in debt because the cost of everything has gone up. Shouldn't be surprising anyone that

credit card growth is finally slowing down a bit, especially since the average APR for commercial credit cards hit a new record high over 21%. So could that be a reason why?

These numbers have gotten so high than Americans are saying, I just can't do it anymore. I just

can't do it. So it's a perfect storm right now. High interest rates, inflation, student loan payments resuming all at once, a spending slowdown is inevitable.

It's not sustainable to keep spending and spending money that you don't have, but tell that to the federal government, which is $34 trillion in debt.

They can print money and you can't. In fact, right now, one in three Americans have maxed out credit cards

do the effects of inflation, according to a new survey by Debt.com. Meanwhile, more and more banks

...