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The Right Coast
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State of the American Debt Slaves: Fed Confounded as They Pay Down Credit Cards, Other High-Interest Debt, and HELOCs | Wolf Street

By Thomas A. Smith

Our always amazing American debt slaves are still borrowing, mind you, but to the great consternation of the Fed, they re reducing their debt where banks and shadow banks make a big pile of their money: credit cards and other high-interest-rate debt such as personal lines of credit.

via wolfstreet.com

Heh.