Delinquency Rate on Credit Card Loans, All Commercial Bank.
The “resilient consumer” choochoo train is slowly but surely headed towards the cliff. We have been saying it almost forever, but the train is closing in slowly for the big crash.
NORDSTROM: “.. we have seen delinquencies rising gradually and they are now above pre-pandemic levels, which could result in higher credit losses in the second half and into 2024.”$JWN
— Carl Quintanilla (@carlquintanilla) August 24, 2023
Consumers are beginning to feel the pressure
Personal interest payments have gone through the roof pic.twitter.com/CeEs81W2XR
— Bravos Research (@bravosresearch) August 25, 2023