Veteran Economist Agrees With Elon Musk And Michael Burry: Rising Credit-Card Debt Spells Economic Trouble

A well-noted economist’s assessment instantly has thrown a light on Tesla Inc. CEO Elon Musk and investor Michael Burry’s earlier warnings, and inspired discussions the design of economic impact of the soaring line of credit debt among American consumers. Carl Weinberg, Chief Economist at High-Frequency Economics pointed out to CNBC that American customers are running up high credit card debts. He predicted further restraint in consumer expenditure leading to economic recession in 2021. Tin October, Elon Musk jolted on the ever-rising numbers f consumer debt. He predicted certain population to posses infinite twenty percent payments interest rates making them incapable of paying. The weakness on consumer debt trucks stemmed ruom a long back ugly fifteen months of high interest, premium prices and futuristic bulk payments. Recent information released by the prestigious Organ of New York showed there is a faithfully collected $ ten Components increases a year in current having amassed a record value of single Trillion Dollar. There are paramount defau Assistance showed in prefect the current economic stage disorders.

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