Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 22 days ago

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

GrouchyGrouse [he/him] · edit-2 22 days ago

The 08 crisis truly never went away. You can't just wipe out that much equity accumulated over decades and expect it to bounce back by 2019 enough for you to say "this is all covid's fault now." It has had ups and downs but the overall trend since the subprime collapse has been decline.

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

The great American boom is finally running out of steam, leaving mountains of debt