Five in Ten 11/9/22: Credit Bubbles Begin to Pop

US credit card balances hit a record in the third quarter as banks offered more cards to consumers with less-than-stellar credit ratings. Meanwhile, subprime auto loans hit their highest delinquency rate in ten years.

5) Media and Democrats “re-bunk” the idea that elections can be stolen; 4) Banks, forgetting the lesson of 2008-9, betting that consumers with bad credit can somehow handle more debt; 3) Global climate cult meets in Egypt to figure out how to get us to pay for their schemes; 2) Albanian migrants to UK targeted by slick TikTok videos; 1) Rat avoids becoming crow’s lunch in UK park with stunning kung fu moves.