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A comment on Ask HN: Do you think this is the start of the new financial crisis?. Parent comment

Re:Ask HN: Do you think this is the start of the new financi... by antibasilisk on Monday March 20, 2023 @10:40PM (#35241909)
>Banks are not overleveraged

But the people are, consumer debt is out the wazoo

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Re:Ask HN: Do you think this is the start of the new financi... by dragonwriter on Tuesday March 21, 2023 @01:58PM (#35249893)
> consumer debt is out the wazoo

No, its not, compared to 2007, when the all time peak of consumer debt (as a share of GDP) was reached, at 98.4%. The recent local peak was 80% in early 2021, and by September 2022 (the most recent number I can find) it had dropped to 75.2%.

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