The US Economy's K-Shape Is A Very Recent Phenomenon

The K-shaped nature of the US economy is widely recognized: liquidity (i.e. savings and credit card availability) among lower-income households has been depleted (as seen in Flow of Funds data), delinquencies on credit cards, mortgages and auto loans have risen (primarily among lower-income borrowers)...

Seriously delinquent credit card balances about to surpass financial crisis record pic.twitter.com/dy43cmfZvB

— zerohedge (@zerohedge) May 12, 2026