US consumer credit just hit an unprecedented milestone—$5.08 trillion. That's not just another number on a chart; it's a signal worth unpacking.

When household debt climbs to record territory, it tells a story about spending appetite, borrowing costs, and where people think the economy's headed. Some see this as resilience—consumers still have access to credit and confidence to use it. Others? A ticking time bomb if rates stay elevated or income growth stalls.

For those watching macro trends, this kind of leverage buildup often precedes shifts in risk appetite across all asset classes. Whether you're in equities, crypto, or sitting on cash, debt levels like these don't happen in a vacuum. They ripple.