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Inflation Soars, Rates Rise, American Debt Skyrockets: Stock To Benefit

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Eight out of 10 adults in the U.S. are in debt.

The average debt, excluding mortgages, was $38,000 in 2021.

Americans used an average of 10% of our disposable income to pay off debt from 2012 to 2020.

That dropped to 8% in the first quarter of 2021.

Now the downward trend is reversing.

By the end of 2021, Americans used 9.34% of our disposable income to pay debt … and I think that will grow in 2022 with soaring inflation and rising interest rates.

Today’s Power Stock is…

The post Inflation Soars, Rates Rise, American Debt Skyrockets: Stock to Benefit originally appeared at Money & Markets.

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