Americans’ household debt surpasses $16T for first time

[DrBeer]

I would also like to add - debt load, for example in the USA, and debt load, for example in Zimbabwe, are 2 different entities, even with the same numerical indicators.

The nuance here is that the US CAN change the situation, and for example, the chosen Zimbabwe - most likely not, or very long and difficult.

Just for understanding - now the USA is launching the economy very effectively - from the expansion of mining companies (the USA can significantly replace oil and gas from Russia, to the EU), to the return of high-tech production facilities from China back to the USA. This will be a real "elixir of youth" for the US economy, and will also lead to an increase in the standard of living of the "average American", which will eventually lead to a noticeable reduction in debt burden.
Can Zimbabwe do the same? Probably not. Therefore, I see no reason to worry about debt-laden US households.

[South Park]

Credit card balances went up by $46 billion, one of the largest recorded by the NY Fed since 1999

The above could validate rumors of americans using credit cards to buy food and other essential goods. Which is a frightening thought to consider.

We've always used credit cards to buy stuff in supermarkets!

But then again, if you're buying stuff with money that you don't have (credit), don't be surprised when you end up with a lot of debt.

The convenience that credit card can give is good, but eventually if you will not pay that in full in time most probably you’ll be trap on that debt cycle and the interest will be in your account which can make the situation worst. Debt is the enemy of financial freedom, if you really want to live a happy life better to be debt free. US has been dealing with a huge since then, but looking at their debt grade, it looks like they can still afford to pay those debts but if left uncontrolled, more economic crisis will happen and many will suffer because of this.

A credit card can have its uses but only if you pay it each month before you have to pay any interest on the debt, this is because you never know when an unexpected expense may appear and you may not have any money in hand to pay for it, so a credit card can give you some room to maneuver, but people do not use credit cards like that and instead use them as if they were using their own money, this in return generates huge interest rates which for some of them can become impossible to pay.