High income earners ($150K+ per year) are defaulting on credit cards and auto loans at a higher rate than other earners. This is concerning for the economy as the top 10% of earners generate 50% of consumer spending and they’re getting tapped out.

Given the layoffs across the white collar job market and the “AI boom” improving productivity, it isn’t a surprising trend but it is a worrying one.

@carnage4life what's the "big short"-equivalent play in this environment?