Luke Gromen: U.S. consumer debt near $19 trillion raises banking risk concerns

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U.S. consumer debt at $19 trillion risk

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Mykhailo Ihnatenko

22.10.2026

Luke Gromen: U.S. consumer debt near $19 trillion raises banking risk concerns — U.S. consumer debt at $19 trillion risk

U.S. consumers currently owe about $19 trillion in consumer debt.

Luke Gromen, founder and president of FFTT, LLC (Forest for the Trees), pointed out that if artificial intelligence leads to major job losses, every 5% of this $19 trillion in consumer debt that defaults would equal approximately 40% of the total equity capital in the U.S. banking system, which stands at about $2.6 trillion.

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Gromen has previously warned that sharply higher U.S. real rates could prompt a chaotic unwind in international investment flows, as reported in an earlier article. He has also pointed to reports of U.S. President Donald Trump buying Russian diesel, noting increased Russian gold and currency purchases in a separate report. These past observations reflect Gromen’s focus on major financial system risks and international transactions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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