Small bank credit card loans 30+ days late reached 7.24%. University of Michigan consumer sentiment is levels last seen during 2008 Financial Crisis and 2011 Debt Crisis

Consumers face challenges.

If banks borrow short and lend long, then a large % of their payments dries up, how do they pay back their lenders in full?

(they don't)

That eventuality is only growing larger: pic.twitter.com/N96oHRwUBG

— Joe Consorti (@JoeConsorti) July 13, 2023

University of Michigan consumer sentiment is levels last seen during:

– 2008 Financial Crisis
– 2011 Debt Crisis pic.twitter.com/DA4rQpdO6S

— Bravos Research (@bravosresearch) July 14, 2023