Am I reading this correctly? 10% of credit cards are more than 90 days delinquent? I want to make sure this isn’t some misstatement or statistical manipulation. If 10% of credit cards are that delinquent there will be major problems. Its not just the credit cards - there could be contagion to mortgages and rent and of course consumer spending and beyond.
Unlike the author, I asked the pertinent question:
What percentage of credit card payments are currently delinquent?
“Just 2.98% of Americans’ total outstanding credit card balances are currently at least 30 days delinquent.”
We’re all gonna die.