Staggering Consumer Debt Nearing Recession Levels

Delinquency rates remain low across various asset classes thanks in large part to a strong labor market. And as a percentage of disposable income, household debt is near its average from 1990 to 2018. The big question is what will happen to consumer debt levels as the Fed continues to raise interest rates.

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(Source: "Household Debt And credit report (q2 2017)," Federal Reserve Bank of New York, last accessed November 7 2017.) First-Time Home Buyers Refrain from Buying. But don’t just stop here. There’s more evidence suggesting that American consumers are struggling and that the economy could be closing in on a recession.

1 Household Deleveraging and the great recession: evidence from the Survey of Consumer finances1 christopher brown2 kalpana khanal3 Abstract: The 2007-2009 recession was preceded by a historically unprecedented buildup of mortgage and consumer debt. This paper uses microdata from the Survey of Consumer Finances to investigate, at a disaggregate level, the extent of

The U.S. debt is the sum of all outstanding debt owed by the federal government. On February 11, 2019, it exceeded $22 trillion. It passed the milestone of $21 trillion on March 15, 2018. The U.S. Treasury Department’s "Debt to the Penny" shows the current total public debt outstanding.This figure changes every day.

American Debt: Credit Card Balances Down $19 Billion in 1Q 2018. debt levels may indicate that consumers are cash-strapped and need to borrow to make ends meet.. the ratio of U.S. household.

After a debt-fueled recession, you would think individuals would be more cautious and conservative with their use of debt. But apparently, that’s not the case in the U.S. If anything, borrowing has become even more reckless. Since the 2008 recession, total U.S. consumer credit has increased by $1.22 trillion (47%) to $3.82 trillion.

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That said, up until now, the cost of the staggering increases in notional consumer debt outstanding has been offset by lower interest rates. As a result, historically low rates have have kept the ratio of household debt service to disposable income levels near multi-decade lows. But rising rates could change all this in the very near future.

They expend staggering amounts of resources in a constant effort to. “We used to think you could spend your way out of a.