When socially postulated compulsion to consume meets the government's debasement of money, the result is a lethal cocktail for the private sector. Consumers in the USA are increasingly dependent on the rapid availability of the most expensive credit via credit cards in order to live to see the end of the month. It is a social crisis that is unfolding here that is unparalleled on an economic level. It is one of the many frivolities and bastardizing aberrations of the fiat clown system.
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42 sats \ 0 replies \ @Hamstr 24 Apr
Fiat, die
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42 sats \ 0 replies \ @freebookspls 24 Apr
These sharp increases in credit card debt happen just after massive dollar creation by the Federal Reserve. It's not a coincidence.
Also, credit card companies are giving cards with hundreds of dolars as limit to anyone. So the amount of people getting cards willing to never pay them probably increased a lot.
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42 sats \ 1 reply \ @halleck 24 Apr
To what degree is this an inflation chart?
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0 sats \ 0 replies \ @TomK OP 24 Apr
To 100%??
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42 sats \ 0 replies \ @riberet19 24 Apr
How long will the cocktail be stirring? At some point this will have a point of no return.
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42 sats \ 5 replies \ @Satosora 24 Apr
This is normal though.
People take on debt because they are careless with money.
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0 sats \ 4 replies \ @freebookspls 24 Apr
That's partially true.
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0 sats \ 3 replies \ @Satosora 24 Apr
people dont need iphones to live.
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0 sats \ 2 replies \ @freebookspls 24 Apr
So....?
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42 sats \ 1 reply \ @Satosora 24 Apr
I think it is more that people are living outside of their means.
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52 sats \ 0 replies \ @freebookspls 24 Apr
Do you realize the spikes happen right after massive dollar emissions by the Fed?
Pinning the increase in debt to "people are dumb" is easy but imprecise (I'm being polite)
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0 sats \ 0 replies \ @Undisciplined 24 Apr
If you also account for interest rates, the current picture looks much worse than that.
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