THE CREDIT CARD COLLAPSE: How Banks Are Hiding Bad Debt!

American credit card debt just reached a record $1.263 Trillion at an average interest rate of 22.15%, but major banks are reporting stable delinquency rates. In today's Wall Street Truthbomb, Chief Investment Officer Mark Malek exposes the off-balance-sheet plumbing financial institutions use to scrub defaulted loans before earnings calls.Mark uncovers the shadow data from yesterday's New York Fed Household Debt Report, showing how serious 90-day delinquencies hit 6.97% while regional bank defaults crossed 6.4%. Discover how mega-banks sell non-performing receivables to private debt buyers at 30 to 40 cents on the dollar, how asset-backed finance trusts disguise default risk, and why cutting consumer credit limits threatens broader retail spending.CHAPTERS & OUTLINE:NY Fed Report Breakdown: $1.263 Trillion Record Credit Card DebtThe 22.15% Interest Rate Trap vs. 3.2% Decelerating Wage GrowthHeadline Delinquency Illusion: 2.92% Commercial Rate vs. 6.97% Serious TransitionsRegional Bank Stress: Why Smaller Lenders Are Seeing 6.4%+ Default RatesThe Off-Balance-Sheet Pipeline: Selling Bad Debt at 30-40 Cents on the DollarAsset-Backed Finance Trusts: Converting Defaulted Debt into Private YieldThe Retail Liquidity Cutoff: What Happens When Credit Lines Get FrozenToday's Wall Street Truthbomb: How Banks Outsource Consumer DefaultsSubscribe: https://www.youtube.com/@wstruthbombs?sub_confirmation=1Substack: https://substack.com/@wstruthbombsX: https://x.com/WSTruthBombsPatreon: https://www.patreon.com/wstruthbombsBlueSky: https://bsky.app/profile/wstruthbombs.bsky.socialTikTok: https://www.tiktok.com/@wstruthbombsTruthbombs videos are for informational and entertainment purposes only. The views expressed by Mark Malek or guests are their own and do not necessarily reflect those of Siebert Financial. These videos do not constitute investment advice, an offer to sell, or a solicitation to buy any securities. Past performance is not indicative of future results. Listeners and viewers should consult a qualified financial professional before making any investment decisions.#CreditCardDebt #BankingCrisis #FederalReserve #Economy #ConsumerDebt #MarkMalek #WallStreetTruthbombs #PersonalFinance #DebtTrap #InflationSupport the show