Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The consumer has been weakening over time. Loan performance has illustrated the trouble.
The credit card delinquency rate is growing, from a historically low base, at a high rate of change (a nasty looking first derivative). Credit card balance interest rates adjust to yield curve changes quickly. The effect of higher rates on the consumer will be observable here first.
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