The mainstream line seems to be that inflation is pulling back. But the average American hasn’t gotten the memo. Credit card balances have been climbing with the average now being $6,218. That’s up 8.5% from the year prior. Borrowers are also falling behind on payments as costs climb everywhere else. This is something that is only going to spell trouble down the road. As an investor, you want to take steps to safeguard your wealth in the kind of environment this will create.
Crypto prices, particularly Bitcoin, enjoyed a similar surge for the same reasons. While cryptocurrency continues to be a roller coaster as far as prices go, the factors point to it being a viable long-term investment. Click here to learn which ones you should consider buying.
Persistent inflation continues to weigh on consumer sentiment. This could spell trouble heading into election season.