According to the most recent National Credit Trends Report from Equifax, consumer debt now stands at $11.2 trillion, slightly more than the $11.1 trillion recorded before the recession in 2006. The figure is substantially lower than the peak of $12.4 trillion noted in October of 2008.
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· To be sure, while staggering, this is nothing new as the growth of U.S. consumer debt has basically gone exponential since the early 90’s. Meanwhile, real median household income has yet to recover to pre-recession 2007 levels.
Staggering Consumer Debt Nearing Recession Levels. Breaking News Click Here For the Full story. central bankers depend on easy money, credit to keep bubble economy inflated. Leave a Reply Cancel reply. Your email address will not be published. Required fields are marked * Comment.
Christopher Thornberg of Beacon Economics, however, says that there is no recession in sight. While he predicts slowing economic growth, he also there are no imbalances that could trigger a recession.
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And though consumers have deleveraged since the crisis, and the popular perception is that consumers are in much better shape today, consumers are in fact carrying 13 percent more debt as a percent of GDP than they were in 2000, the moment before the ill-fated private debt boom that led to the 2008 crisis began.
· The report found that 13.5% of Moody’s retail and apparel portfolio is distressed, compared to 16% during the Great recession. debt maturities are also headed toward record levels.
Staggering consumer debt nearing recession levels. june 17, 2019 – 11:42 AM. Breaking News and Information with a strong bias for telling the truth. Censored news and analysis that you won’t find anywhere else. More stories about Breaking News. Work begins on collateral-free loan pledge.
Like our own Ian Bezek stated in October 2017, V stock is surprisingly recession. consumer sentiment represent confirmation that his policies work. But the reality is that Trump was probably right.