Person interest payments have increased by 100% in the past 18 months. Credit crunch is taking out auto lending home lending and commercial real estate.

Credit Squeeze ‘Biggest Threat’ to Economic Outlook – Asset Managers

The biggest threat to the economic outlook is a credit squeeze that has not finished filtering through the financial system, two senior asset managers told a European equities conference on Wednesday. The failure of two U.S. lenders and the forced takeover of Credit Suisse roiled financial markets in March, and a sharp selloff in bank stocks tightened lending conditions further…