US Household Debt / BankruptcyThe first thing is that I really saw a bullish tone overseas hitting $79.60 but 3am they decided to hit the flush pushing Oil to $78 which isn't horrible it still stayed above $77 and at 9:30 Oil did push over $79 so I don't feel too bad that Oil isn't up $1.50 but anyone who bought yesterday when Oil was at $77 had a chance to bail before the downside came.
US Household Debt rising could cause a financial crisis in this slowing economy when you consider how much higher their payments are getting with Intrest Rate Hikes. We're starting to see bankruptcies increasing so this could be the start of larger US crises, the US has been screwing up with the .25% Rate Hike being too small, and playing catchup will drag this move of higher interest rates till 2025 then you have an adjustment to Oil Stock giving us a 16Mil surplus and on top of swimming in Oil Biden want to add more through SPR! The great plan isn't tightening Oil demand plus Shale production is to increase hugely in March so let's add more Oil to the flooded market investors for Oil Stocks are hesitant in taking a position while turbulent times are staying with us so with all this happening if China Manufacturing reading comes in lower that'll kick Oil in the stomach. Not very bullish today as we trade flat as of this posting. Oil needs to push through $79 up over $80 before Oil plays really come alive.
US Bankruptcies 
US Household Debt Hits Record $16.9 Trillion US household debt surged by $394 billion to a record $16.90 trillion in the fourth quarter of 2022, the sharpest increase in two decades, on the back of rising mortgage and credit card balances due to rising inflation and interest rates. Mortgage debt, which accounts for the bigger slice of total debt, increased by $254 billion to $11.92 trillion at the end of 2022, at a time when an aggressive tightening camping from the Federal Reserve pushed the average rate on a 30-year fixed mortgage briefly above 7%, a level not seen since 2001. Also, credit card balances increased by $61 billion, the most on record, while auto loan balances rose by $28 billion. Meanwhile, the overall percentage of borrowers in delinquency remained below pre-pandemic levels. Still, concerns grew among economists that younger borrowers could struggle once payments of student loans resume later this year.
US Household Debt 