QuoteI'm not saying "time to panic" so much as I'm saying it's not entirely awesome that the highest level of delinquencies since the 2008 financial crisis are coinciding with near-record low savings rates during a period of stubbornly high interest rates and rising inflation
https://x.com/DKThomp/status/2060363015883558947?s=20
Context - the savings rate has only been lower twice in the last 60 years - just before the 2008 downturn and just after the Covid reopening when Covid subsidies ran out but people were desperate to treat themselves
Not to worry...
"Academic literature would tell you lower savings rate can mean one of two things: the kind of doomer view you took, or that people have more confidence"
Bessent Says Americans Dipping Into Savings To Support Themselves Could Be A Good Sign, Actually
https://uk.finance.yahoo.com/news/bessent-says-americans-dipping-savings-191714616.html