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Started By
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re: U.S. credit card debt stands at a record of nearly $1 trillion
Posted on 5/15/23 at 1:16 pm to RLDSC FAN
Posted on 5/15/23 at 1:16 pm to RLDSC FAN
Why not? Money will eventually be worth nothing. The things you bought with CC can be bartered for stuff. Smart move. It all collapses soon.
This post was edited on 5/15/23 at 4:03 pm
1
Posted on 5/15/23 at 1:25 pm to AUFANATL
quote:
A lot of people who just run a monthly float of $1-2k of basic expenses because nobody uses cash or checks anymore and it's never been easier to pay the balance each month so might as well collect rewards and points; and
A lot of people who just run up huge balances over $50k buying a bunch of shite they can't afford with no intention of ever paying any of it back.
A lot of people do both of these...pay bills with credit cards and then decide to spend the money they intended to pay the credit cards off with. The whole "points" and "rewards" thing requires more discipline than most in a nation where most people can not pay for a $1000 emergency without tapping credit....
Posted on 5/15/23 at 1:41 pm to RLDSC FAN
So are credit cards the new mortgage crisis similar to 2008?All these people shouldn't have credit card's yet financial institutions still give it to them and then wonder why they cant pay them back. Will People never learn?
Its right in front of your face why they shouldnt have a credit card: Low paying job, Yearly income 30k,still in school, Credit scores sucks, no credit score etc..... Yet Here you go here's your credit card. Now make sure you make your payments.
I think the people that issue these cards should bare the brunt when the person holding them defaults. I know they passed laws for mortgages none for Credit cards? Half of the people holding credit cards should not have them yet here we are.
Its right in front of your face why they shouldnt have a credit card: Low paying job, Yearly income 30k,still in school, Credit scores sucks, no credit score etc..... Yet Here you go here's your credit card. Now make sure you make your payments.
I think the people that issue these cards should bare the brunt when the person holding them defaults. I know they passed laws for mortgages none for Credit cards? Half of the people holding credit cards should not have them yet here we are.
Posted on 5/15/23 at 1:58 pm to 427Nova
quote:So a filling from a dentist is worth you doing 2.75 hours of Project Management in exchange?
Why not? Money will eventually be worth nothing. They things you bought with CC can be bartered for stuff.
Money as a medium of exchange exists for a reason.
Bartering is cumbersome & painful as a medium of exchange.
The solvency of the Federal Reserve is not based on physical gold or silver but on faith in the Government of the United States writ large.
If the Fed fails, a new system will eventually emerge with a medium rather than the barter system.
This post was edited on 5/15/23 at 2:00 pm
Posted on 5/15/23 at 2:02 pm to Deactived
quote:
Why are you buying other people dinner twice a week at $400 a pop?
Probably a post scene dinner for all the guys creampieing his daughter.
Posted on 5/15/23 at 2:03 pm to soccerfüt
quote:
If the Fed fails, a new system will eventually emerge with a medium rather than the barter system.
This is why the US Government is so ruthless in its efforts worldwide. If they lose the super power status it’s all over for the elites.
Posted on 5/15/23 at 2:15 pm to RLDSC FAN
$0 cc debt club. Pay that stuff off every month and swim in the rewards points.
Posted on 5/15/23 at 2:17 pm to LNCHBOX
quote:
Probably a post scene dinner for all the guys creampieing his daughter.
Yep. Nothing like a few brews with the boys after the gangbang
Posted on 5/15/23 at 2:23 pm to RLDSC FAN
This is why the Biden administration relaxed lending for people with bad credit scores. there's about to be a shitload of those once those people start defaulting on their credit cards lol.
Next up those people will default on their homes
This post was edited on 5/15/23 at 2:26 pm
Posted on 5/15/23 at 2:39 pm to RLDSC FAN
quote:It's almost certainly not a per capita record.
U.S. credit card debt stands at a record of nearly $1 trillion
Posted on 5/15/23 at 2:54 pm to Boss
quote:People WILL have nice things, even if it breaks them financially.
The article also states that the average car note is 700 dollars. That is insane.
Posted on 5/15/23 at 3:08 pm to RLDSC FAN
my credit card balances are $0 because I treat it like a debit card
Posted on 5/15/23 at 3:13 pm to FLObserver
quote:
So are credit cards the new mortgage crisis similar to 2008?
I think so. I think we're seeing the expansion of a consumer debt bubble and I think the coming recession will cause it to explode.
Posted on 5/15/23 at 3:17 pm to Bard
quote:
So are credit cards the new mortgage crisis similar to 2008?
I think so. I think we're seeing the expansion of a consumer debt bubble and I think the coming recession will cause it to explode
The number of bad auto loans says hold my beer
Posted on 5/15/23 at 3:18 pm to FLObserver
quote:nah
So are credit cards the new mortgage crisis similar to 2008?
Posted on 5/15/23 at 3:21 pm to Supermoto Tiger
quote:
That was 28 years ago and I have never owned a credit card since.
There are benefits to using them
Posted on 5/15/23 at 3:28 pm to RLDSC FAN
Are student loans still on hold?
Posted on 5/15/23 at 4:00 pm to Bard
would like to see this chart along side the cost increase of cell phone/Iphones.......but yet this country continues to destroy the oil industry for excessive profits.
Posted on 5/15/23 at 4:04 pm to danilo
People have been on a spending spree trying to keep up in appearance for years. I am glad this is being reported and I hope credit tightens up more.
Whats sad is there is a whole bunch of Boomers that did right and saved only to have their offspring spend it before they are even dead.
Tisk tisk.
Whats sad is there is a whole bunch of Boomers that did right and saved only to have their offspring spend it before they are even dead.
Tisk tisk.
Posted on 5/15/23 at 4:09 pm to USMCguy121
I am not trying to be mean here but this needs to happen. Just like everyone was complaining about banks taking bailouts etc. you have to let people fail as well or they will never learn.
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