re: Credit scores decrease for the first time in a decade; borrowers fall behind on payments

Your graph shows we had a then record level of CC debt in 2019.

Was the economy shite back then or not?

quote:

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See anything interesting about this picture? Biden took office January 2021.

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Inflation spiked and the consumer went along for the ride.

However, if you look at the whole graph you just posted, it’s clear that economic growth drives consumer debt upwards and recessions drive it down.

Pin inflation on Biden if you’d like but drawing a correlation between consumer debt and the competence (or lack of competence ) of whoever the president is doesn’t make a lot of sense.