The United States is facing significant economic challenges, with record-high rates of consumer defaults on credit cards and car loans, reflecting the financial strain on many households.
WARNING: The consumer is borrowing more than they can afford
Default rate on credit card loans from small lenders has spiked to 7.51%
This level is higher than:
– Dot Com bubble
– Financial Crisis
– C-19With credit card interest rates still above 20%
Consumers are heading… pic.twitter.com/qXDEUaCuyr
— Bravos Research (@bravosresearch) November 2, 2023
Cox Automotive estimates that 1.5 million vehicles will be seized this year, up from 1.2 million last year.
Read more: https://t.co/hmmcEvkW5T
— unusual_whales (@unusual_whales) October 23, 2023
Delinquency by Property Type pic.twitter.com/wmSkLuBZUf
— Win Smart, CFA (@WinfieldSmart) November 2, 2023
A record 447,000 Americans are now working 2 full-time jobs, per Joe Consorti: pic.twitter.com/pkDJSRWxVX
— unusual_whales (@unusual_whales) November 2, 2023
U.S. 🇺🇸
EMPLOYMENT pic.twitter.com/PrpcBA3a23— Win Smart, CFA (@WinfieldSmart) November 2, 2023
U.S. 🇺🇸
MANUFACTURING pic.twitter.com/6dTB9CzKXB— Win Smart, CFA (@WinfieldSmart) November 2, 2023