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A comment on U.S. credit card debt jumps 18.5% and hits a record $930.6B. Parent comment

Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by soperj on Friday February 03, 2023 @01:45PM (#34645941)
That's how all recessions start.
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by ceejayoz on Friday February 03, 2023 @02:58PM (#34646921)
It's also how non-recessions continue.
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by soperj on Friday February 03, 2023 @03:10PM (#34647061)
So basically useless data then for determining whether a recession is coming.
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by dragonwriter on Friday February 03, 2023 @03:23PM (#34647202)
> That's how all recessions start.

Most recessions are preceded by several months in which unemployment is rising significantly from the relative low. Its probably the most reliable recession predictor (visually, looking at a graph, the oscillations between the closely-spaced 1980 & 1981 recessions seems to be the only case of a recession not having that signal, and there are very few cases of a clear multimonth rise after the (usually shortly post-recession) recession-associated peak that do not signal another recession.

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