(Natural News)—Cost of living in the United States is so out of control that consumers are going into debt like never before in the nation’s history.
This historic debt binge seemingly has no end, especially because of the increasingly harsh economic environment that is making it next to impossible for many people to continue making ends meet.
Housing costs are through the roof. Employers are laying off workers in record numbers. Poverty and homelessness are becoming the norm rather than the exception. America’s southern border is wide open to limitless “asylum seekers” who are displacing and replacing American citizens. Where does it all end?
For many, the only way to continue surviving in this hellscape is to go into debt. The latest data from the Federal Reserve shows that consumer borrowing increased much faster than expected in December, which saw higher spending than normal.
“U.S. consumers did not rein in their spending this past holiday season, and now have near-record-breaking debt balances to show for it,” one report explained.
“Consumer borrowing spiked by $23.75 billion in November, more than doubling economists’ expectations for a $9 billion increase and sending outstanding credit balances north of the $5 trillion mark for the first time on record.”
(Related: Check out the top 10 politicians who are on the dole of Israeli blood money.)
Inflation, debt, collapse
Higher rates of revolving credit, mostly from credit cards, are behind the monthly increase in borrowing that occurred in December, soaring by nearly $19.5 billion. This represents the third-highest monthly increase on record since 1943.
Though rapidly rising debt levels have not yet become unmanageable, this is changing as the debt crisis is leading the country off a financial cliff.
“Credit card usage and Buy Now, Pay Later usage seemingly surged during the holidays, on top of already hefty debt loads,” said Ted Rossman, a senior industry analyst at Bankrate.
Looking back at what happened in 2012 when the country was just coming out of what came to be dubbed as the Great Recession, even what happened then pales in comparison to the nightmare that is unfolding today as credit card rates have reached an all-time high with an average of more than 20 percent.
Credit card rates are also rising at the steepest annual pace ever, aligning with the Federal Reserve’s interest rate hike cycle.
“Most cardholders’ rates have risen five-and-a-quarter percentage points during that span as a result of the Fed’s rate hikes meant to combat inflation,” Rossman added. “It’s no wonder, then, that we’re seeing more people carrying more debt for longer periods of time.”
A recent survey found that a whopping 56 million credit cardholders in the U.S. have been carrying balances “for at least a year.” Roughly half of them now carry debt from month to month on at least one card.
More than 60 percent of America now lives paycheck to paycheck, and many of them are struggling just to pay their monthly bills, let alone having anything extra for a rainy-day emergency.
It is expected that things will worsen dramatically in 2024 as well. An economic downturn, as they are calling it, is sure to manifest – though many would argue that, based on pre-“pandemic” metrics, the U.S. has already been in a recession for some time now.
Cam Harvey, the economist who discovered the Treasury yield curve’s ability to forecast recessions, says that when yields on three-month Treasury bills remain higher than those on 10-year notes for at least three months, triggering an official inversion, a recession is sure to follow.
“The indicator has preceded each of the last eight recessions and has not produced any false positives,” reported Business Insider about Harvey’s model.
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Why the National Debt Is the Looming Threat to Your Retirement Plans
The Hidden Crisis No One Is Talking About
Every day, headlines warn about inflation, market volatility, and global instability—but the greatest looming threat to your retirement might be something far more fundamental: America’s skyrocketing national debt.
You can learn more about how the national debt affects you by reading this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“.
With debt growing faster than most Americans can possibly fathom, the government’s borrowing habits have reached historic—and dangerous—levels. To cover spending, Washington is making moves with their budget packages, tariffs, and taxes. Is it enough? No. It’s not even close to what would be necessary to stop out-of-control debt, let alone reverse it.
How Debt Erodes Your Nest Egg
There are only so many levers government and the Federal Reserve can pull to try to protect Americans, assuming that’s even a top priority for them. Unfortunately, pulling one level to relive one pressure invariably adds pressure from another direction. This is why prices keep going up even as inflation reportedly slows.
For retirees and pre-retirees, that’s a perfect storm. The dollars you’ve worked hard to save lose value, and your cost of living increases while your investments lag behind.
If you’re relying solely on paper-based assets—stocks, bonds, or mutual funds—you’re essentially tied to the same system that’s creating the problem. It’s a system that was designed to work well in the 20th century, not in today’s world with people living longer and the dollar rapidly losing value.
This is why the 3-minute report, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now,” is so important.
The Precious Metals Hedge
Thousands of Americans are looking for a tangible, time-tested hedge: physical gold and silver.
Unlike paper assets, precious metals aren’t dependent on government policy or the stock market’s mood swings. They’re real, finite resources that have maintained value for thousands of years through wars, recessions, and inflationary periods.
In fact, during times of high inflation and fiscal instability, gold often performs its best—because it’s seen as a store of value when faith in the dollar weakens. This is why prices have skyrocketed this year and are expected by many economists to continue going up in the future.
Take Control with a Gold IRA
One of the most effective ways to protect your retirement from national debt fallout is through a self-directed Gold IRA. This IRS-approved account lets you hold physical gold and silver within your retirement portfolio, giving you:
- Direct ownership of your assets
- A hedge against inflation and dollar decline
- The control to diversify beyond Wall Street
Augusta Precious Metals specializes in helping Americans just like you take this step with confidence. The company has earned a strong reputation for transparency, education, and personalized service—making it one of the most trusted names in the industry.
The Next Step: Secure Your Financial Future
Augusta Precious Metals has helped thousands of Americans with at least $50,000 to invest from their IRAs, 401(K)s, TSPs, and other retirement accounts safeguard their savings through precious metals.
If you’re concerned about what the rising national debt could mean for your future, now is the time to act.
Read this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“ and learn the simple steps you can take to protect your retirement.
