The U.S. Now Has:
1. Record $16.5 trillion in household debt
2. Record $11.9 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Record $986 billion in credit card debt
Total mortgage debt is now more than double the 2006 peak.
Meanwhile, 36% of Americans have more credit card debt than savings with balances rising at the fastest pace since 1999.
This is all while mortgage rates just hit 7.1% and credit card debt rates hit a record 24.9%.
We are "fighting" inflation with debt.
This can't end well.
Source:
https://twitter.com/kobeissiletter/status/1632408557101432833?s=46&t=ybCp3ydjDJA_wR_uVxrEgA
fillippone
npub13m…v2xfz
2023-03-06 13:33:45
Author Public Key
npub13mg4p79p8r47ura000v9npr67z4uj7n5lpwx6zqanh3aevcsshyslv2xfzPublished at
2023-03-06 13:33:45Event JSON
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"content": "The U.S. Now Has:\n\n1. Record $16.5 trillion in household debt\n\n2. Record $11.9 trillion in mortgages\n\n3. Record $1.6 trillion in auto loans\n\n4. Record $986 billion in credit card debt\n\nTotal mortgage debt is now more than double the 2006 peak.\n\nMeanwhile, 36% of Americans have more credit card debt than savings with balances rising at the fastest pace since 1999.\n\nThis is all while mortgage rates just hit 7.1% and credit card debt rates hit a record 24.9%.\n\nWe are \"fighting\" inflation with debt.\n\nThis can't end well.\n\nSource:\n\nhttps://twitter.com/kobeissiletter/status/1632408557101432833?s=46\u0026t=ybCp3ydjDJA_wR_uVxrEgA",
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