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George Pearkes
peark.es
did:plc:pnx2fjuannbdpy3337ggthpp
One of the wildest facets of the last couple years is that not only are we seeing a stealth deleveraging of consumers' housing balance sheet (subdued origination -> amortization rolls along and fixed payments shrink vs rising incomes) but also an outright deleveraging for non-housing debt too.
2025-01-08T20:41:14.517Z