I'm surprised that no one on pol is talking about this massive bubble that will pop soon and send us into a possible depression.
washingtonpost.com
TLDR over 200 million new credit card accounts were created in the period of April-June of 2022 alone. CC debt increased up another $40+ BILLION in the month of June alone too. Get ready for the explosion.
Wow! Where will all that money that doesn't and will never exist come from, I wonder?
Doesn't help that the household debt has surpassed $16 TRILLION this year too.
All this talk about a recession feels like an illusion right now imo. Depression in 2023 seems much more likely to happen.
TWO MORE WEEKS GOY
>Get ready for the explosion.
How long does it take for people to realize they don't have to pay it off because the money never existed in the first place coupled with scam interest rates?
Too soon. 2 more quarters seem more realistic.
That looks like a guy that knows his way around a taco bell.
Credit is for poor people who want to larp as richfags
Yeah I'm thinking another 2 quarters or close to that to.
up 40 to 890, which is about $2600 per capita
200 million new credit card accounts?
Crazy. And here's me being a pleb with just one.
KOWALSKI!
Analysis
$890 billion in credit card debt, man we are fuuuucked
It's tempting to debtmaxx
Consumers have their shit, retailers have their money. 890 billion debt is the bank's problem.
Car payments are falling behind too.
Of course, cuz gas is too fucking expensive right now(and will be even worse in fall/winter) and even used car prices are skyrocketing.
Why pay for shit that you literally can't use?
>ITS HAPPENING
>1 pbtid
tl;dr nigger. post a chart/twitter screencap or gtfo
So what you are saying is too use more CC debt to speed up the collapse?
>t. interested in a 2k Bulova
Debt? What debt?
Yeah. 30% APR on a Pizza you had two months ago is insane, and most people tightening their belt in the US realized they were basically paying interest on the principal balance they owe, and never paying the principal.
Get a Debt card from Walmart that you can refill if you want to buy shit on line. That way, you know the amount you can spend, and if it gets lost or stolen, you know the amount you're gonna lose. No waking up a month from now 5K in debt because "you" bought 5 new gaming systems from Amazon. Credit, for the most part, is for suckers.