Credit card Rates hit an all time high of 21.4 %. America is now a Loan Shark Operation.

Add in the buy now pay later loans at checkout, the subprime auto loans, the payday loans. The loan sharks never had it so good.

Another new all-time high for consumer credit card interest rates pic.twitter.com/BWeavhTbEO

— Liz Ann Sonders (@LizAnnSonders) January 10, 2024

Yeah. Moreover, serious delinquencies have been rapidly rising. In some age categories, they have reached levels not seen since the Great Financial Crisis.

As a reminder, a loan becomes delinquent when a person does not pay by the specified due datet.co/AMAfLzE4bT

— Global Markets Investor (@GlobalMktObserv) January 10, 2024

AC