@KobeissiLetter:

“JUST IN: Total US household debt rises by $148 billion in the first quarter of 2023, to a total of $17.05 trillion.

This is the first time in history that total US household debt has crossed $17 trillion.

Breakdown of the large categories:

1. Mortgage Debt: +$121 billion to $12.04 trillion

2. Auto Loans: +$10 billion to $1.56 trillion

3. Student Loans: +$9 billion to $1.60 trillion

4. Credit Card Debt: Unchanged at $986 billion

Debt levels continue to hit new records every quarter despite the fastest rising interest rates in history.

Consumers ran out of money and are using debt to "fight" inflation.”

#Bitcoin