Feb. 10 at 6:15 PM
$B $SLV $GDX $GLD $JNUG
U.S. Consumer Debt Trouble Hits Highs Not Seen in Yrs
Loan delinquencies jumped to 4.8% of household debt in Q4, the worst since 2017, mostly hitting young & low-income borrowers. Mortgage defaults spiked in lower-income areas
Student loans hit a record 16.3% delinquency
Credit cards & auto loans rose to 12.7% & 5.2%
The scary part isn’t that everything breaks at once.
It’s that it breaks selectively, quietly, & then all at the same time when the labor market finally blinks. Nominal growth strategy is worsening imbalance. Watch as policy reacting to debt stress, not inflation risk, what is this telling you? This isn’t about overheating the economy, it’s about "reliquefying" it
& it's only gonna get worse. Consumer credit jumped
$24 billion in December to a record
$5.11 trillion, the largest increase in years.
Americans are offsetting rising prices w/debt, borrowing to make the inflation adjustment that wages never did. What can go wrong?
