Use of credit cards, personal loans surges, but ‘it’s not a red flag,’ expert says

Cnbc ^

[Red in Blue PA]

The number of consumers with credit cards and personal loans reached record highs in the second quarter of 2022, driven by an increase in loans to subprime borrowers, according to the latest credit report from TransUnion.Delinquencies are also back near pre-pandemic levels.But as long as people have jobs, “I’m not seeing anything that I would really declare as a red flag,” TransUnion’s Michele Raneri said.

[Red in Blue PA]

Sure.

[BuchananBrigadeTrumpFan]

...and with the Fed dramatically hiking rates surely no one will lose their job during the impending recession.

[Red in Blue PA]

Everything in that paragraph is a red flag to any normal thinking person.

Yet we live in an Orwellian double speak world, where up is down and good is bad.

[BuchananBrigadeTrumpFan]

^^^Fact^^^

[Paladin2]

It’s probably just transitory or at least just a transition.

[Scrambler Bob]

If not a Red Flag, then a Black Flag.

[Erik Latranyi]

These are not the economic indicators you are looking for...

[Paladin2]

[Obadiah]

Load ‘em up, boys. 22.5% interest ain’t that bad. What? Me worry? The gubmint will just print and hand out more money. Say, aren’t my college loans now forgiven by gubmint decree? Welp, maybe they’ll do the same with credit card debt and just blame those greedy, predatory, racist credit card lenders.

[ProtectOurFreedom]

But as long as people have jobs, “I’m not seeing anything that I would really declare as a red flag,” TransUnion’s Michele Raneri said.

"Captain Smith, we have reports from other ships of drifting ice in the area of the Grand Banks of Newfoundland"

"Ignore them. We are unsinkable. Maintain full speed!"

[dfwgator]

"But this ship cannot sink!"

[ArcadeQuarters]

You can stop reading at this part: “expert says”

[cranked]

Baghdad Bob ‘Nothing to see here!’ meme please.....

[eyeamok]

Using credit cards and piling up unspeakable amounts of debt is just a transitory transition to poverty, nothing to see.

[mewzilla]

A graduate of the Baghdad Bob School of Business and Economics.

[Semper Vigilantis]

All part of The Plan. Bury people in debt, force them to default, take all their sh!t, sell everything to China, retire to Epstein’s Island.

[DoughtyOne]

“Well, there were three empty gas cans by the side door
where the fire started, but “That’s not a red flag”, he
said.

These city folks don’t reason like farmers do. Smile...

[McGavin999]

They will start thinking about red flags when the payments stop.

[stanne]

Not a red flag. Nor is the help wanted signs all over this town competing with Monopoly money out of DC

[Deo volente]

Updating Klaus Schwab:
“You will own nothing, owe everyone, and be miserable.”