by mrmrmrj
Everything is fine. Really.
This is BEFORE student debt repayments begin again in September. When payments resume, defaults will skyrocket. The entire program is a disaster in slow motion.
People will choose housing, rent, food and utilities and likely default on their… pic.twitter.com/W4xIxbx3o0
— Wall Street Mav (@WallStreetMav) August 22, 2023
The yearly change in credit card default rate is now higher than the 2008 Financial Crisis
This won't end well pic.twitter.com/SvKp6sRqGK
— Bravos Research (@bravosresearch) August 22, 2023
Even though consumers have been resilient until now, personal savings are at decade-low levels pic.twitter.com/jdwzfysAo8
— Bravos Research (@bravosresearch) August 22, 2023
The Fed just published its loan data for the last quarter.
Credit card delinquency rates are now higher than they’ve been in over a decade.
It probably wasn’t a good sign when we started seeing ads for pizza loans: pic.twitter.com/qA6WAXRxX8
— Quiver Quantitative (@QuiverQuant) August 22, 2023