by KINGSQUID_SID
Covid Credit Card debt is the highest it’s ever been in 20 years. 80% of all Americans have debt.
The most interesting thing is somehow delinquency rates and charge off rates are some the lowest in data provided by the FED.
Interesting detail is funding to offshore banking services by commercial banks has increased by almost 400% in 5 years. Thats fucking remarkable.
I think a lot of bad debt is being transferred abroad in order to protect the bullish mentality that exists. Ik a lot of people suffering because of inflation in the US, and it amazes me that somehow debt is not being exasperated by it.
I also don’t believe the charge off rates are reliable. That would mean that a lot of people are able to pay of the debt and the economy is doing well, which is the exact opposite of the current situation that I notice living in the US.
I have massive doubts about the data provided atm
Sources:
www.federalreserve.gov/releases/h8/current/default.htm
www.newyorkfed.org/newsevents/news/research/2022/20220802