Tales from the Credit Trenches: Credit Card Limits Cut

#silentdepression #creditcrisis #consumercredit

M3 Market Update is a review of the current state of housing (including long and short-term rental), commercial real estate and mortgage finance with relevant data and drivers. Not investment advice.

I chat with Amanda Goodall and Laks Ganapathi of Unicus Research about the headwinds facing our distressed consumer. Student loans, auto, credit cards, mortgage and Buy Now Pay Later are all coming under stress. Synchrony is cutting credit limits. Buy Now Pay Later at 30% delinquent. Access to credit is being shut down everywhere you turn. Retail spending down. Travel in trouble. Fall is shaping up to be ugly.

Also - you will want to check out my latest Substack which dives into May housing data as well as what's going on in Minneapolis: https://m3melody.substack.com/p/things-that-make-you-go-hmmm?r=1znp5e

You can find Laks Ganapathi of Unicus Research on xTwitter at https://x.com/UnicusResearch and on Substack at https://contrarianunicus.substack.com/

Laks is currently running a sale! Just follow the link to https://contrarianunicus.substack.com/ and click on Confidential Insights for a discounted rate to her amazing stack.

Here are some links to recent articles:

On OBBB: https://contrarianunicus.substack.com/p/signal-a-legislative-trigger?utm_source=publication-search

https://contrarianunicus.substack.com/p/signal-ii-a-legislative-trigger

ABS: https://contrarianunicus.substack.com/p/the-off-balance-sheet-trap-when-abs


You can find Amanda Goodall on xTwitter: https://x.com/thejobchick and on Substack: https://thejobchicksinsideredge.substack.com/about


General Reference & Recommendations:

1) #silentdepression - For a review of what's really been going on in the economy since 2007 to understand the path of housing: https://www.youtube.com/watch?v=dcl1RP1ziNo. Follow @emilkalinowski on Twitter or YouTube.
2) The term Eurodollar sounds kinda weird and the concepts are complicated, so I recommend going back to the very beginning where they lay it out very simply. This is a MASTER CLASS in monetary policy and the plumbing of the financial system: https://www.youtube.com/watch?v=XPlvXuDqxBc
3) And for an episode on some of the myths surrounding the Fed: https://www.youtube.com/watch?v=G2AD-0r0Vlk
4) The Fourth Turning: https://www.amazon.com/The-Fourth-Turning-audiobook/dp/B00005UPTV/ref=sr_1_1?hvadid=377825614251&hvdev=c&hvlocphy=9005974&hvnetw=g&hvqmt=e&hvrand=7239185417261577819&hvtargid=kwd-513996878352&hydadcr=7465_9611852&keywords=the+fourth+turning+neil+howe&qid=1685491236&sr=8-1
5) A Brief History of Doom: https://www.audible.com/pd/A-Brief-History-of-Doom-Audiobook/B07WP67Q3G?source_code=GPAGBSH0508140001&ipRedirectOverride=true&gclid=CjwKCAjwhdWkBhBZEiwA1ibLmG2_fihIT0EOL8FmQxsjpXK7LX77Kezt6_eR2Q-RKrv0Tzpw0UE18RoCxcQQAvD_BwE&gclsrc=aw.ds
6) Swamp Peddlers - https://www.amazon.com/Swamp-Peddlers-Scammers-Retirees-Transformed/dp/B096CJ9SW1/ref=sr_1_1?keywords=swamp+peddlers&qid=1696972120&sr=8-1



Please reach out to me with questions or comments:
Twitter: @m3_melody
LinkedIn: https://www.linkedin.com/in/melody-wright-44204a4/
Substack: https://m3melody.substack.com