Note how the dip after the Financial Crisis – when consumers deleveraged mostly by defaulting on those debts – didn’t last long. Over the 10 years since Q1 2008, consumer debt has now surged 47%. Over the same period, the consumer price index has increased 16.9%:
https://wolfstreet.com/2018/05/08/consumer-credit-auto-revolving-student-loans-q1-2018/