May. 11 at 10:54 PM
$SLV $JNUG $B $GDX $GLD
AUTO LOAN AND CREDIT CARD DELINQUENCIES IN THE US HAVE HIT
ALL-TIME HIGHS, ACCORDING TO CNBC
Right now, the approximate U.S. totals are:
Credit card balances: about
$1.3 trillion‼️
Auto loan balances: about
$1.7 trillion‼️
Totaling
$3 trillion in credit card & auto loan balances & wait to you see the interest YEARLY the US consumer is paying on the credit card loans.
~
$275–
$300 billion per year in credit card interest alone & that's using a conservative 21.5% average APR.
~
$120–
$140 billion per year in auto loan interest using an estimated blended APR around 8%. Combined estimated annual interest adding both together: 280 billion+136 billion =
$416 billion‼️ yearly in interest payments. Even the lightest touch of stagflation will hurt
That does not include mortgages, student loans, personal loans, BNPL debt, HELOCs. The issues of significance is coming that you can be sure. The "solution" is lower rates & lots of QE by a different name perhaps
