In just 3 weeks, 18 large U.S. companies with $50M+ liabilities have filed for bankruptcy—9 of them last week alone. That’s the fastest pace since the 2020 pandemic, and approaching 2008 financial crisis levels.
Consumers aren’t faring better:
• Serious credit card delinquencies surged to 12.7% in Q4 2025—the highest since 2011
• 90+ day delinquent balances rose to 7.1%, 3rd highest level since 2011
• Young adults (18–29) hit 9.5%, 30–39 at 8.6%, putting discretionary spending at risk
Household debt record: $18.8T total, up $191B in Q4 2025 alone
• Mortgage: $13.2T
• Credit cards: $1.3T
• Auto loans: $1.7T
• Student loans: $1.7T
The Big Picture:
• Rising bankruptcies
• Accelerating consumer delinquencies
• Debt at all-time highs
This is classic late-cycle stress: growth slowing, debt elevated. If the trend continues, pressure hits jobs, spending, and credit markets. Policymakers typically respond after the damage is visible—think rate cuts, liquidity support, and balance sheet expansion.
Signal: Financial stress is rising fast—the window for policy support is closing in.
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