There is a guy I subscribe to on YouTube called Reventure Consulting.
He mostly talks real estate but the last few weeks he has mentioned credit card defaults.
Apparently, both Discover Card and Capital One have seen a surge in the default rate up to 5.7 & 5.9 % from around 3%.
The last time something similar happened was 2008.
[The last time something similar happened was 2008.]
I’ve been saying, 2008 is coming again.
It’s basically unavoidable what with the gang in D.C.