/biz/ - Business & Finance

Prepare your anus for the coming payments crisis:
https://www.reuters.com/article/us-usa-economy-debt/red-flags-emerge-as-americans-debt-load-hits-another-record-idUSKCN1Q11YV

>Consumer spending accounts for two-thirds of growth in the world’s largest economy and it is expected to hold strong this year even as the overall expansion cools after a hot 2018.

>However one sign of consumer demand, credit inquiries, slipped in the second half of 2018 to the lowest level recorded by the New York Fed.

>Another signal of weaker demand, the closing of credit cards and other accounts, jumped to its highest level since 2010, while flows into serious delinquency for credit cards rose 5 percent, up from 4.8 percent in the third quarter.