pull down to refresh
20 sats \ 9 replies \ @Satosora 2 Dec \ on: No, 60% of Americans aren't "living paycheck to paycheck". econ
Im sure people have credit cards to make it by.
But you have to realize, americans dont really save money well.
They didnt learn these values in their education, unless it was done at home.
Credit cards are the same as the government borrowing money to pay the current bills, in other words, the budget deficit. The only difference is the credit company is the Federal Reserve, who prints money out of thin air, along with its minions the banks and banksters.
Sooner or later it all has to be paid back, unless there is a default (bankruptcy) by the consumer or state.
reply
reply
Yes, indeed it can. It has defaulted at least thrice before, 1871, 1933 and 1972 or 3 by Nixon. The state may have defaulted around 1812, which may have been a major cause of that invasion. Thanks to the Russians, we were able to do something about the British, then.
reply
reply
No, you don’t see.
It is happening before your very eyes, right now!!
You have to wake up to the fact that FRN fiat is going to zero.
That is a default.
reply
What happened to the debt after the default?
reply
The debt goes to zero and the collateral gets scooped up by the creditors.
reply
Thanks for the education
reply
You’re welcome.
reply