We knew it was coming...
https://www.zerohedge.com/economics/all-sudden-it-came-halt-after-posting-fresh-records-just-months-earlier-rv-industry
Forum Discussion
PButler96 wrote:
Plenty of folks have started tapping into savings to maintain their standard of living, and even more have started to access credit to do the same, both are unsustainable and will run out, and the credit option is a double whammy with rising interest rates.
Maybe your predictions will come true eventually, but for now credit card debt is considerably behind where it was before the start of Covid. Personal savings rates shot up during Covid due to the massive stimulus packages but are still at about the average for the 20 years prior to Covid.
https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/
https://fred.stlouisfed.org/series/PSAVERT
