It feels like a depression, because it is a depression for working Americans.
The US government used your tax dollars to bail out the Epstein class in 2008 and then in order to get interest rates lower again, they destroyed the working class with outsourcing and immigration. pic.twitter.com/oiePFNrbaq
— Darth Powell (@VladTheInflator) July 27, 2026
Fed revolving credit outstanding hit about $1.344 trillion in May.
Bankcard balances alone sit near $1.1 trillion.
Overall personal savings rate dropped to 3.0 percent.
Lower-income households have long run thinner or negative savings buffers.
Subprime auto delinquencies climbed to levels not seen in decades in early 2026 data.
Some lender reports show clear jumps in 60-day past-due rates.
Repossessions have climbed back toward recession-era marks.
Auto debt overall sits around $1.7 trillion.
High interest cards and longer car loans keep getting approved even as defaults rise.
Many households lean on revolving credit for everyday bills including utilities.
Federal Reserve G.19 Consumer Credit: https://www.federalreserve.gov/releases/g19/current/
FRED revolving credit series: https://fred.stlouisfed.org/series/REVOLSL
BEA personal saving rate via FRED: https://fred.stlouisfed.org/series/PSAVERT
Equifax May 2026 consumer credit trends: https://www.equifax.com/newsroom/all-news/-/story/may-2026-u-s-national-consumer-credit-trends-report/