The financial landscape is in turmoil: credit card interest rates have surged to an unprecedented 21.47%, while credit card debt has crossed the $1 trillion mark. Personal interest payments have climbed to over $500 billion, signaling a looming consumer crisis. With excess savings depleted, the consumer’s financial health is more vulnerable than ever. Inflation remains deeply entrenched, posing a significant threat to the economy.
CAUTION: Credit card interest rates have skyrocketed to a shocking 21.47%
Moreover, credit card debt has crossed the $1 trillion mark
And personal interest payments have risen to over $500 billion
At this rate, the consumer is heading for trouble
To make things worse, excess… pic.twitter.com/PFMloRa7M4
— Bravos Research (@bravosresearch) June 25, 2024
Bond erosion begins. pic.twitter.com/Kfk043oyTy
— The Great Martis (@great_martis) June 26, 2024
It fascinates me how people continue to dismiss today's inflationary forces as potentially being a structural issue.
Having been born and raised in an emerging market, I find these signs unmistakable.
As shown in the chart below, the past cyclical increases in consumer prices… pic.twitter.com/YQ8c7b8vth— Otavio (Tavi) Costa (@TaviCosta) June 25, 2024