Consumer Sentiment just imploded, credit card delinquency rates in Q4 23 were the worst on record, ‘phantom debt’ is soon to be a huge problem

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Consumer sentiment has plummeted, mirroring levels seen before previous bear markets, including the market slump in 2021. This downturn, coupled with record-high US credit card delinquency rates in Q4 2023, with nearly 3.5% of card balances over 30 days past due, signals potential financial turmoil. Moreover, serious delinquency rates (90+ days) are rising at the fastest pace since the Great Financial Crisis. Adding to the economic concerns, the impending “phantom debt” crisis looms large, driven by future installment payments from ‘buy now, pay later’ programs, posing a significant threat to already indebted Americans.


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