America's credit boom

Like an annoying younger sibling, America loves to borrow (more on that below). In fact, much of the recent boom in the US economy has stemmed from Americans taking out personal loans and credit cards to pay for the things they want, not necessarily because they need to, but because they want to take advantage of the historically low interest rates we’ve seen over the last decade. So while credit card borrowing is at a record high—$871 billion—the delinquency rate on credit cards is at an all-time low. We love to see those on-time payments!—Daniel