IPFS News Link • Economy - Recession-Depression
A massive credit card debt catastrophe is coming.
• Citizen Watch ReportDefault rate on credit card loans from small lenders is now higher than:
— Game of Trades (@GameofTrades_) September 7, 2023
Dot Com bubble
Financial Crisis
C-19
Buckle up. pic.twitter.com/1dBkzHOI1X
Americans are defaulting on their credit cards and auto loans at levels not seen since the financial crisis.
The current accumulation rate of credit card debt may lead to rapid delinquency, potentially triggering a bear run and potentially a recession.