With burgeoning credit card debt, soaring interest payments, and rates not seen since the Financial Crisis, a breaking point looms closer.
The consumer is on thin ice as US personal savings rate has collapsed
This indicator has dropped from record highs in 2020 to levels last seen during the Financial Crisis
To make things worse, savings rate is declining at a time when:
1. Consumer credit card debt has surpassed… pic.twitter.com/YHOiv2HUbF
— Game of Trades (@GameofTrades_) October 23, 2023