Unless I misread and I dont think I did, i read that credit card debt reached its highest amount in over 25 years. That would explain why the consumer is still strong. I dont think that means they are strong though. That tells me they are living on borrowed time and if they get laid off, you will see a spike in bankruptcies.
I believe I read cc debt was 15% higher than last year. Another way of looking at it is almost no one paid their credit cards last year. That is not good.
Credit card debt both in the US and Canada are at historical record highs. Everyone bets on a soon to be observed recovery. If one thing throws a wrench into the machine then all bets are off.
%% The usual suspects/ northern states like NJ , AK have the most\ redneck states , many of them LOL have the least MS,KY, ID, SD.................. I don't mean redneck in a negative sense, like Dave Ramsey says ''I'm a redneck''[source Lending Tree+ Dave redneck Ramsey] Looks like student debt went a up a lot again/ post election /LOL + courts smack down....................................... Fed chart show cc debt up from 2008. Mortgage debt chart down\ may come down some more\ I see more travel trailers+ smaller homes, on average.
This video was 4 months ago...But he nailed it concerning debt (auto loans). PS I usually never trust anyone named Lucky!!
A 100 years back, $100 loan was high, thus, in other words, there will be new highs for debts as long as there is any kind of inflation.
%% NO wonder\ LOL, no such thing as luck. John Henry , trend-follower, noted ''what you call luck, i call a small sample ''.................................................................