RE:Credit Card balances jumped highest in over 20yrs
anytime you read something jump % wise ask yourself whats the absolute value. This way you can better understand the % change. For example credit card balances did jump but the same articles states its still below pandemic levels as they were heavily paid down. This means the actual debt load of consumer did not really increase. Thus we need to know if things are now balancing out or truly increasing, we will need at minimum one more quarter or two to know what the data is really saying. Gosh you post doom scenarios but weakly support it. I appreciate the post on credit card increasing but its too early to form an educated opinion given the absolute change of credit card debt is below pandemic levels. This could just be pent up demand after lockdown and not necessarily used to bridge income just because of inflation. Lets check at the end of Q3 and Q4.