Skip to main content
No. of Recommendations: 0
I think the key statistic, at least IMO, was the assertion that credit card purchases had *increased* by 20% for the measured period, versus same period 1 year earlier. I suspect, like others here, that the fairly recent tendency to use credit cards for grocery and gasoline purchases explains some of it, just replacing cash use, and doesn't necessarily imply debt increase at all (but human nature dictates it would have some of that result), but a 20% increase in one year does seem rather staggering, hard to explain by just that kind of thing alone.

I don't understand why it is necessary to use a surrogate statistic anyway. Surely the powers that be have a method of measuring actual interest-bearing debt load per capita, rather than just charged purchase activity.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.