U.S. Consumers Broke But Confident, Saving Less than Rent, Debt Crisis will Slam US

The U.S. consumer is confident, according to Bank of America, and continues to spend, even as more people are essentially broke. We look at a GoBankingRates survey indicating that nearly 70% of U.S. consumers have less than $1,000 in savings. This is a lend, spend, and pretend economy that will end badly. The debt crisis will slam US.
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