U.S. Has Record $17.5 trillion in household debt, Record $12.3 trillion in mortgages...
8 months ago
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https://twitter.com/KobeissiLetter/status/1755217182638702979
The U.S. Now Has:
1. Record $17.5 trillion in household debt
2. Record $12.3 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Near record $1.6 trillion in student loans
5. Record $1.1 trillion in credit card debt
Total mortgage debt is more than double the 2006 peak and total credit card debt is officially up 50% since 2020.
Meanwhile, delinquency rates on credit cards and auto loans just hit their highest since the 2008 financial crisis.
Consumers are "fighting" inflation with debt.
This can't end well.
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