Hello fellow Rebel Capitalists hope you're well so we've got a new report that just came out that talks about credit card debt.

Now those of you who have been watching the channel know that credit card debt is just skyrocketing over a trillion

dollars but now we're starting to see the delinquencies in fact we haven't

seen delinquencies like this since, according to this report,

the GFC. Let's get over into the first chart. We do a quick screen share and we'll go to Twitter actually and this is a tweet.

I've seen this chart everywhere but I just Google it and happen to come up from this

gentleman named Steve Burns at S Joseph Burns.

And this is from 2022, but I can assure you it's worse now.

This is the chart that we use for the thumbnail. And this blue line represents

credit card debt. So we can see this going completely parabolic in 2021 into 2022 but what's really interesting here is look at the

savings rate that's the red line you see so as the savings rate goes down and

down and down or well let's go back up as the savings rate goes sky high because

the stimmies and whatnot and because people don't have to pay back their student loans,

what happens to the credit card usage, plummets. But then what happens when

stimmies run out and then all of a sudden we want to spend like we were, then

you see the credit card debt. There's almost an inverse relationship, which makes a lot of sense, right?

So now I've read reports, like I said earlier saying that this credit card debt is over a trillion dollars, we've we've is quite literally

unprecedented but let's go over to see and b c and check out this story title

credit card losses are rising at the fastest pace since the

GFC let me repeat credit card losses arising at the fastest pace since

the GFC so not only do we have just incredible amounts of credit card

debt, but now we're starting to see the delinquencies increase, not just in nominal terms but as a percentage of that overall debt

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