awake-society:Consumer-zombie: A person who buys everything without thinking about it, or because
awake-society: Consumer-zombie: A person who buys everything without thinking about it, or because she/he simply needs to buy something to be happy (Urban-Dictionary).—- —- —- “Consumer indebtedness rose $127 billion to $11.28 trillion, the biggest increase since the first quarter of 2008, according to a quarterly report on household debt and credit released today by the Fed district bank. Mortgage balances climbed $56 billion, student loans increased $33 billion, auto loans were up $31 billion and credit-card debt rose by $4 billion.We observed an increase of household balances across essentially all types of debt,” Donghoon Lee, senior research economist at the New York Fed, said in a statement. “With non-housing debt consistently increasing and the factors pushing down mortgage balances waning, it appears that households have crossed a turning point in the deleveraging cycle.” Source -- source link