Breaking: Credit card debt is in the same 3-4% of GDP band it has been in for 15 years.

Kalshi
@Kalshi
07-29
BREAKING: US credit card debt has hit an all time high of $1.1 trillion, up $363 billion since April 2021
Inflation continues to squeeze American consumers, driving record borrowing just to stay afloat
Despite the surge, odds of a recession this year are at just 14%


Meanwhile, credit card delinquencies are also normal.
People have a recency bias in general, so if they were unusually low and they're back to normal, that seems high until you zoom out.

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