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Tucker Carlson 05-29-2026

The Secret History of Biblical Giants, Demons, and the Advanced Civilizations Before the Great Flood

https://www.youtube.com/watch?v=5x9vR5sKHFI

Yesterday, The Wall Street Journal highlighted how rising prices and the highest interest rates in decades have pushed even relatively high-income households into financial distress.

The percentage of credit card balances that are 90+ days delinquent climbed to 13.1% in the first quarter, the highest level in 15 years and the worst reading since the aftermath of the 2008 financial crisis. Total credit card balances reached a record $1.25 trillion for a first quarter, while average credit card interest rates have surged from 14.6% in early 2022 to roughly 21% today.

Delinquency rates have risen across low-, middle-, and high-income households alike. In other words, this is no longer just a lower-income problem.

Student loan delinquencies have also exploded higher as repayment obligations returned. Credit card delinquencies have surged to post-financial-crisis highs.

Auto loan defaults, particularly among subprime borrowers, are sitting near multi-decade extremes. New data from Experian shows that nearly 19% of new vehicle loans now carry monthly payments of at least $1,000, up from 17.4% a year ago and more than triple the 5.4% level seen just five years ago.

Contrary to popular belief, these aren’t primarily luxury vehicles, either. Roughly three-quarters of the loans are tied to mainstream models, led by popular pickup trucks like the Ford F-150, Chevrolet Silverado, and Ram 1500.

The surge reflects years of rising vehicle prices and larger loan balances, with the average amount financed reaching a record $43,952 and the average monthly payment climbing to an all-time high of $770. While delinquency rates remain below 2018 levels overall, both 30- and 60-day late payments are increasing, with the most significant stress emerging among subprime borrowers, who face the highest risk of default as elevated rates and larger loan balances continue to strain household finances.

Meanwhile, as noted yesterday, the personal savings rate has collapsed back toward historic lows as households burn through what little financial cushion remains.

The fundamental problem is simple: the modern U.S. economy has become heavily dependent on credit expansion. For decades, growth has been supported by ever-lower borrowing costs, rising asset prices, and consumers’ ability to refinance, roll over debt, and take on more leverage.

That model breaks down when real interest rates remain positive for an extended period. Debt accumulation can sustain spending temporarily, but eventually higher interest costs begin consuming larger and larger portions of household cash flow. At some point, debt service crowds out discretionary spending. Consumers stop buying. Delinquencies rise. Credit availability tightens. Economic growth slows.

As the New York Post put it yesterday, Americans are “too broke to have fun”.

Nearly 60% of Americans say they don’t have enough money to make fun plans this summer — as gas and restaurant prices soar, according to a new poll.

Cash-strapped folks are fueling a “fun drought” with more that 57% of people surveyed saying “cost and budget” are what’s keeping them from having a good time, according to a survey of more than 5,000 US residents.

Overall, the state-by-state survey found 48% of the nation feels like they lack fun in their lives — and 12% can’t even remember the last time they had a free day to enjoy themselves, according to the study, funded by Dave & Buster’s and conducted by Talker Research.

Every month that rates remain elevated, more households are forced into the same position described throughout the Wall Street Journal article: juggling balances, making minimum payments, delaying purchases, draining savings, and hoping no unexpected expense arrives.

The longer rates remain restrictive, the greater the probability that what currently appears as a gradual deterioration turns into a full-blown consumer retrenchment.

And when nearly 70% of U.S. GDP depends on consumer spending, a consumer retrenchment quickly becomes an economic problem.

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