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21 sats \ 3 replies \ @cryotosensei 2 Dec 2024 \ parent \ on: No, 60% of Americans aren't "living paycheck to paycheck". econ

What happened to the debt after the default?

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24 sats \ 2 replies \ @Rothbardian_fanatic 2 Dec 2024

The debt goes to zero and the collateral gets scooped up by the creditors.

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0 sats \ 1 reply \ @cryotosensei 3 Dec 2024

Thanks for the education

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0 sats \ 0 replies \ @Rothbardian_fanatic 3 Dec 2024

You’re welcome.

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