U.S. Has Record $17.5 trillion in household debt, Record $12.3 trillion in mortgages...

https://twitter.com/KobeissiLetter/status/1755217182638702979
The U.S. Now Has:

1. Record $17.5 trillion in household debt

2. Record $12.3 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 mortgage debt is more than double the 2006 peak and total credit card debt is officially up 50% since 2020.

Meanwhile, delinquency rates on credit cards and auto loans just hit their highest since the 2008 financial crisis.

Consumers are "fighting" inflation with debt.

This can't end well.

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