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The situation is not good, but theirs is worse. The UK & Europe are on the ropes.
Articles like this are in service to the bankrupt Bank of England and their masters at City on London (who just had the Ukrainians default on more of their loans).
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๐ CHART WATCH ๐
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On balance, the INSEE survey remains weak and French consumers are troubled. There had been some recovery in train, through mid-2024. But since then, the recovery has eroded as the chart at the top of this report shows.
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Nearly one-third of federal student loan borrowers โ about 5.8 million people โ are now more than 90 days delinquent, a sharp increase from the 12% delinquency rate seen before the pandemic.
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Having fallen from 22% to 14.5% from May 28th to June 20th, it is now up to 18.6%.
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Countries rich people are leavingโฆ
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They will either be reformed some now or reformed a lot later.
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