If student loan forbearance comes to a screeching halt, we haven’t seen nothing yet.

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Many of us have been wondering though if the economy has been propped up by credit card spending, and it seems we are getting the answer on that now.

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Same thing happened in 06 credit card delinquencies spiked while mortgage delinquency/foreclosures were relatively low..

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https://fred.stlouisfed.org/seriesBeta/DRSFRMACBS

https://fred.stlouisfed.org/seriesBeta/DRCCLACBS

Bond Default Rates Surpass 2008 Crisis Levels

 

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