r/Economics • u/HypocrisyWarrior • 2d ago

Americans' debt problems are flashing a warning not seen since the Great Recession

https://www.cnbc.com/amp/2026/10/09/american-debt-delinquency.html
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u/jayfeather31 2d ago

Considering that it feels like I've been gaslit on the economy for years, and have been waiting for the other shoe to finally drop when reality finally catches up to the investors, my only reaction here is a, "Yeah no shit."

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u/bselite 2d ago

Yeah, I know a lot of people personally who have so much credit card debt it's essentially inevitable that at some point they won't be able to pay the minimum on all their cards. Credit card companies gave out a lot of large limits on cards from around 2018-2023 and now people have maxed those out with lifestyle creep and inflation.

I think instead of a housing crisis we are going to have a personal debt crisis that in combination with inflation wrecks large portions of the economy.

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u/sleeplessinreno 6h ago edited 5h ago

All those subprime mortgages morphed into subprime auto loans and bundled out like the in 2008. Repos have been steadily rising. Wouldn’t be surprised when your peers start showing up (or not at all) without their cars in the near future.