Household debt just surpassed the record level reached during the 2008 financial crisis

CNBC/Steve Liesman/05-17-17

The New York Federal Reserve reports that household debt across the nation has hit a dubious milestone in the first quarter: It surpassed the peak debt level of 2008 at $12.7 trillion.

…Credit-card delinquencies crept up and student-loan delinquencies remain stubbornly high in the low double digits. Delinquencies in the $1.2 trillion auto-loan market were down a bit, but they bear watching after a steady rise since 2012.

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