Rising Consumer Debt Isn't Necessarily A Bad Thing According To Economist
Americans are carrying more consumer debt than almost ever before. That’s credit card debt, student loans, car loans, etc. According to the Wall Street Journal, it will all top $4 trillion in 2019. That’s bad, right?
Not according to Andrew Hunter. He says rising debt is a good sign — within reason, of course. It shows that banks are doing well enough they’re willing to lend, and consumers are willing to borrow and use that money to buy things like home and cars.
Hunter is a senior U.S. economist with Capital Economics in London, and he joined The Show.