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YOLO spenders have taken on a massive amount of debt
YOLO spenders have taken on a massive amount of debt recently.

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  • The US has a "super-duper" credit bubble on its hands as "YOLO spenders" take on massive debt, David Rosenberg said.
  • US household savings are quite low at 3.7%, while consumer spending bulged by $208 billion last quarter, financed with debt.
  • "As far as consumer credit is concerned, the default cycle isn't merely looming. It's arrived."

Today's consumers — or rather, "YOLO spenders" — have taken on a massive amount of debt, top economist David Rosenberg said. And it's created a big bubble in a pocket of the US economy.

Tags
economy, Markets, us-economy-outlook, consumer-credit, credit-card-debt, consumer-spending, yolo, credit-bubble, us-economy-and-markets
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'YOLO spenders' have created a 'super-duper' credit bubble in the US economy, t…