It's really very simple. In a credit-driven consumer economy, when consumers are defaulting at all-time record levels there is only one direction in which this economy can possibly move: down.
It has already been widely reported that all categories of U.S. loans are simultaneously defaulting at record levels (with the exception of commercial real estate, which is just starting its own crash). However, a report just released by credit bureau, TransUnion shows that things are about to get worse.
Its “credit risk” index for U.S. consumers just hit a new, all time-record. As this is a “risk” index, rather than a “default” index, this shows what is going to happen in the future, as opposed to what is taking place at the moment.
[Ten komentarz został zgłoszony do usunięcia przez 1 osobę - max303.]