https://www.ft.com/content/bafdd504-fd2c-11e7-a492-2c9be7f3120a
I've posted here before that I'm a little bit worried about rising consumer debt levels. This is another worrisome statistic that would seem to go against every point about our economy being so great right now. Also, this comes at a time in which we saw an enormous jump in CC spending (largest in 3 years) while we have close to record lows in consumer savings.
Is this a problem right now? Probably not, but the continued expansion here should be a cause for concern in the future, especially when paired with rising defaults on student loans, and rising defaults on auto loans.
Another question worth asking is how much of the current economy is driven by credit growth? If so, is it sustainable at the current levels?
Submitted January 22, 2018 at 11:39AM by cbus20122 http://ift.tt/2BkcadV
