Credit card delinquencies surged in 2023

[tsptalk]

I smell another bailout... :suspicious:


Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says

Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Fed reported Tuesday.

Total debt rose by $212 billion in the quarter, a 1.2% increase quarterly and about 3.6% from a year ago.

Credit card delinquencies surged in 2023, indicating '''financial stress,''' New York Fed says

 

[Bullitt]

Yet bulls keep talking about how Americans are still swimming in excess COVID savings.

Delinquency Rate on Credit Card Loans, All Commercial Banks (DRCCLACBS) | FRED | St. Louis Fed

 

[tsptalk]

Yet bulls keep talking about how Americans are still swimming in excess COVID savings.

That all went to Draft Kings, Door Dash, and iphones.