While the U.S. economy appears to be booming, with loads of new jobs and low unemployment figures, Americans themselves aren't exactly in a strong financial position. Indeed, Business Insider reports America has never been more indebted. Aggregate borrowing to cover mortgages, credit cards, student loans, and car loans rose for the 18th straight quarter in the fourth quarter, reaching a new record of $13.5 trillion. What's especially worrying is that more than 7 million Americans have reached serious delinquency status on their car loans. Having large amounts of debt leaves Americans much more sensitive to even minor changes in borrowing costs--and that much closer to their financial edge. In response to those numbers and a virtually flat inflation rate, the Federal Reserve is slowing down its stepped increase of interest rates.
This video was produced by YT Woch...