Americans Have Never Been So Far Behind on Their Credit Card Bills
Americans Have Never Been So Far Behind on Their Credit Card Bills
Analysis from the Federal Reserve Bank of Philadelphia finds that credit card balances, delinquencies and utilization rates have reached their highest levels on record.
If we all just decide to stop paying and stop using credit, what are they gonna do?
General Strikes will never happen.
They're gonna happen eventually if nothing improves. There's a breaking point to this all that we are on a collision course with.
They wouldnt be trying to throw trans people, women's rights, immigrants etc. under the bus so hard if they weren't desperate for the distraction. Genocide is the last gasp of empires as they fail. And we will fall if trump wins or further damages democracy.
Not with that attitude.
Garnish your wages, tank your credit (which usually only matters when you decide to borrow more money, but it also comes up whenever you apply to rent a new apartment, for instance), continue to make 3% of every transaction you make even with a debit card.
Is this what's driving the oh-so-great economy that people are too stupid to understand is so great?
The secret ingredient is lies.
Most corporations run on debt at one time or another. The difference is that regular people can’t get enough debt to trick investors into thinking they’re succeeding.
Americans Have Never Been So Far Behind on Their Credit Card Bills … since the Philadelphia Fed started tracking this data in 2012