https://x.com/KobeissiLetter/status/1821532387592814713

The U.S. Now Has:

1. Record $17.8 trillion in household debt

2. Record $12.5 trillion in mortgages

3. Record $1.6 trillion in auto loans

4. Near record $1.6 trillion in student loans

5. Record $1.1 trillion in credit card debt

Total household debt is now up 53% over the last 10 years and total credit card debt is up 50% since 2020.

Meanwhile, delinquency rates on credit cards and auto loans are nearing the highs seen in 2008.

Consumers are “fighting” inflation with debt.

This can’t end well.