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Global wave of consumer default underway, beginning in China

Global wave of consumer default underway, beginning in China

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6 comments

  1. Well this was expected. People have been riding a wave of consumer debt for a decade and the booming economy has swept a lot of it under the rug.

    A few weeks without income has been enough to topple the illusion, now comes the harsh reality that people can’t afford their lifestyles, and even landlords etc can’t maintain their property portfolios without a constant steady income stream and lots of cheap debt.

    It’s not even just individuals, businesses too. This year is going to be a reality check for many.

  2. Ah generation Z living through recessions ever since the 2nd grade.

  3. Been like this since 2008.

  4. A lesson of live within your means. Just because you can get credit. Doesn’t mean you should.

  5. The Greatest Unwinding. China’s a trendsetter, that’s for sure.

  6. Me and the husband have been wondering about this for a while, we have confortable 6 figure income, we do not vacation often, we don’t wear expensive clothes and have new cars but nothing fancy (think a truck and a small suv) meanwhile people that we know for a fact make half of what we do go on vacation twice a year to Hawaii have a huge camper and a boat, new furniture all the time and a fancy tv on each rom…

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