Wanna see how the credit pump or Fiat Ponzi Grinder is running these days? Here is a quote out of our beloved WSJ, based on Fed's data:
"American millennials in their 30s have racked up debt at a historic clip since the pandemic. ( - They are talking about the clown cold here - edit) Their total balances hit more than $3.8 trillion in the fourth quarter, a 27% jump from late 2019. That is the steepest increase of any age group." - WSJ, Federal Reserve Bank of NY
you can now use a credit to buy something on amazon, and take advantage of one of those multi-payment options at checkout, splitting that payment up into like 6 payments and put those payments on your credit card! A partial payment you make with a credit card that you have the option to pay a fraction of that balance each month...yikes. 2 layers of credit further obfuscating the reality of a consumer's debts. It's crazy the layers of credit I see my friends interacting with, scary too. I have friends just doing it as a default even for small purchases.
reply