Do you still remember 2007, 2008, and 2009? Do you remember the financial crisis? It was an awakening. Household debt has returned to 2008 levels.
The Federal Reserve Bank of New York released a study revealing that total household debt in the US has risen above recessionary highs. Driven primarily by growth in nonhousing-related debt, total household debt in the US climbed to $12.8 trillion in Q2 2017, surpassing the $12.7 trillion reached in Q3 2008.
No one has a desire to return to 2008’s situation, I just thought it was worth mentioning as a reminder that markets don’t necessary only go in one direction.