US families are more overleveraged than any time since 2010

20% now behind on loan payments vs 12% in 2022

That's almost 2x in just 2 years

Consumer credit is cracking. When people can't pay bills, they're not buying your bags. Liquidity dries up fast when Main Street is broke.

Macro headwinds are real. Watch for:
• Credit card delinquencies spiking
• Retail spending dropping
• Risk-off sentiment bleeding into crypto

If you're overexposed, this is your signal to derisk. Bear market playbook starts with protecting capital when the system shows stress.