USA Debt Crisis - Joe Blogs

[TexasTowelie]

US household debt has reached a record $18.8 trillion — and delinquencies are now at their highest level since 2017.

In this video, we break down what is really happening beneath the surface of the US economy. Mortgage balances continue to rise, credit card rates are now around 21%, auto loan costs remain elevated, and student loan delinquencies are climbing sharply.

Across mortgages, auto loans, student loans and credit cards, Americans are paying an estimated $1.35 trillion per year in interest — nearly 5% of US GDP. That equates to more than $10,000 per household every year just to service debt.

With personal savings falling and youth unemployment elevated, the financial buffer for many households is shrinking.

This is not 2008 — but the direction of travel is becoming increasingly concerning.

In this analysis, we examine:
• Total US household debt trends
• Rising delinquency rates
• The breakdown across mortgages, autos, student loans and credit cards
• The real cost of servicing this debt
• What it means for US economic growth going forward
• Is this the early warning sign of a broader slowdown?

Chapters:
0:00 Intro
0:53 DEBT LEVELS
2:07 DELINQUENCY
4:17 MORTGAGES
5:34 AUTOS
6:08 STUDENTS
6:53 CREDIT CARDS
7:44 SAVINGS
9:47 COSTS
11:52 DELINQUENCIES
13:35 SUMMARY & CONCLUSION