Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
Correct, which is why we aren’t in a recession YET.
Even if the Q2 numbers go negative when they’re announced later this month, we STILL aren’t in a recession unless the Q3 numbers are also negative.