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US credit card debt topped $1.34 trillion in February, significantly above the cycle tops of around $900 billion in 2008 and 2020.
New car loans (5-year term) at 8.22% are above the 2007 rate peak.
Corporate bankruptcy filings have been leaping since the Fed started hiking base rates in March 2022, both in America and Canada.
US credit card debt topped $1.34 trillion in February, significantly above the cycle tops of around $900 billion in 2008 and 2020 (as shown below since 2003, courtesy of MFHOZ ). The interest rate on this debt is above 20%....