Auto loan and credit card interest rates just hit a new record high.

Average interest rates:

- Credit Card: 24.5%
- Used Cars: 14.0%
- New Cars: 9.0%

Meanwhile, we have record levels of debt:

- Total Household Debt: $16.5 trillion
- Auto Loans: $1.6 trillion
- Credit Card…

— The Kobeissi Letter (@KobeissiLetter) April 3, 2023