Because We're Still Not Sufficiently Indebted...

Now the government wants your home equity

Zero Hedge just posted a long look at how the “buy now, pay later” (BNPL) industry now accounts for about $700 billion of largely unreported “phantom debt”. This, speculates ZH, is why the economy hasn’t fallen into recession.

Now come the unintended consequences:

Pernicious effects of BNPL credit are piling up: the Harris Poll survey conducted last mont…