ExxonMobil + Chevron + BP + Shell + TotalEnergies, 2nd quarter profits(not revenue) total $55 Billion.

233 million new 2nd quarter credit card accounts a record high since 2008.
Total card debt in 2nd quarter up $46 Billion to $890 billion, $100 billion over last year.
The New York Fed noted that delinquency rates for credit card debt is still relatively low.
Household debt increased by $312 billion, now $2 trillion higher than before the pandemic.
Auto loans also went up, with balances increasing by $33 billion.

It's going to get bad when the shit hits the fan with China since 90% of what we buy is made there.
In addition a lot of this debt rather than from the west who had a habit of reducing or forgiving debts, is from China and going to be a tougher row to hoe.Totting up the cost is eyewatering.

Using 1,000 basis point bond spreads as a pain threshold, analysts calculate $400 billion of debt is in play. Argentina has by far the most at over $150 billion
Argentina $150 Billion
Egypt $45 Billion
Ecuador $40 Billion
Belarus
El Salvador
Ethiopia
Ghana
Kenya
Laos
Lebanon
Mozambique
Nigeria
Pakistan
Russia
Sri Lanka
Suriname
Tajikistan
Tunisia
Ukraine
Zambia
Zimbabwe