The U.S. Now Has:
1. Record $17.8 trillion in household debt
2. Record $12.5 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Near record $1.6 trillion in student loans
5. Record $1.1 trillion in credit card debt
Total household debt is now up 53% over the last 10 years and total credit card debt is up 50% since 2020.
Meanwhile, delinquency rates on credit cards and auto loans are nearing the highs seen in 2008.
Consumers are "fighting" inflation with debt.
This can't end well.