Credit deterioration is coming fast, and consumer spending soon after.

A very effective TL;DR of my post :) -- with the addition of companies laying off due to lower spending, which leads to more delinquencies, than more layoffs, etc

Sorry if I stole your thunder, I have access to broad consumer lending and health macro data in my day job, was really just confirming your post.

Not stealing thunder! I'm glad you work in the field and agree with my conclusions!