If it feels that good, it's probably a scam
This week, as the country was feeling good about its record medal haul in the Rio Olympics, suddenly consumer confidence appeared to be looking healthy too. But behind the rose-tinted sunglasses, a bubble of household debt was competing in a new kind of race with rival, the house price bubble, to see which will burst first. It’s neck and neck. Household debt is at terrifying levels. If consumer spending is on the rise, it’s likely that credit cards are a driving force. More than one in 10
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