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The average interest rate on US credit card balances has spiked to 20.7%
With data going back to 1994, that's the highest rate we've ever seen. Meanwhile, delinquency rates on credit card loans from small lenders are now at an all time high of 7.1%. That's above the 6.0% peak in 2008 and up sharply from 3.8% in 2020. Source: Charlie Bilello, The Kobeissi Letter
US interest expenses have surged by about 50% in the past year, to nearly $1 trillion on an annualized basis
Source: Lisa Ambramowicz, Bloomberg
The survivorship bias
It is a sample bias that occurs when we assess only successful outcomes and disregard failures. See below example with strikes on returning and non-returning planes during WWII Source: Mnke Daniel
Hedgeye about investors going nuts (do they?)
Source: Hedgeye
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