Potential Financial Crisis in the Future

The U.S. Now Has:

1. Record $16.5 trillion in household debt
2. Record $11.9 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Record $986 billion in credit card debt

Total mortgage debt is now more than two times higher than the 2006 peak.

Moreover, 36% of Americans have more credit card debt than savings with balances rising at the fastest pace since 1999.

This is all while mortgage rates just hit 7.1% and credit card debt rates hit a record 24.9%.

Inflation is causing a lot of debt.

This can create a new financial crisis in the future. I don’t want to panic anyone or anything, but this may affect the crypto market as well. Potential black swan? What do you guys think?

NFA