58% of Americans are living paycheck to paycheck after the inflation spike, including 30% of those earning $250,000 or more.
58% of Americans is roughly 150 million adults, and with inflation at a 40-year high, every type of worker, employee, employer, doesn't matter, is feeling the financial stress and burden. It is only a matter of time before we see this economy really struggle and hurt a lot of people.
With inflation, paychecks do not go as far as they used to. Perfect example is the rise in the CPI to 8.6%.
Credit card balances are going to be going up because people will need to rely on those more and more to keep their day to day lifestyle going, and supporting others. The overall credit card balance is rising at an alarming rate right now.
I remember someone said 'softish landing'... ya ok.