Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
A growing number of Americans have fallen behind on their bills. Lower-income households have begun to strain under the weight of mounting debts and meager wage growth. The consumer goods sector should take heed.
4.4 percent of accounts fell into delinquency in the second quarter, increasing by more than thirty percent compared to the prior year period. Approximately three percent of accounts were seriously delinquent as of the end of June. The seriously delinquent, those with payments that are ninety days past due, are a litmus test because they struggle to restore their accounts to current status.
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