With a total credit card balance of $986 billion and a total limit of $4.5 trillion, U.S. consumer actually have $3.5 trillion in untapped available credit on their cards.
Earnings don't move the overall market; it's the Federal Reserve Board, focus on the central banks, and focus on the movement of liquidity, most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets.
The endgame for the current high-debt environment will likely involve a combination of high fiscal deficit spending, cash and Treasury yields held persistently below the prevailing inflation rate, a trend shift from disinflation to inflation and subsequently currency devaluation
Central Banks have extended their monetary policy toolbox with every crisis since 2008.
Every crisis, they pushed #yields down further and created more #liquidity to contain the elephant in the room: #DEBT
What makes you think this time is different?