Shocking Consumer Credit Numbers: Everyone Is Maxing Out Their Credit Card Ahead Of The Recession

get ready to short the credit companies

at the first sign of collapse

you will get rich

They figure that if leftism is good for Venezuela, hell, it should be just as good for America.

Liberalism is a mean, greedy, unethical, decadent way of thinking. Nothing wrong with that.

Everyone knows it's all coming down soon anyway so might as well max out the credit.

Worse case scenario? They declare bankruptcy & they're debt free again.

"The future ain't what it used to be"
-Yogi Bera

To be honest, we had our first little one during the pandemic. In order to keep my wife from having to take the beastly jab or submit to weekly tests (that she would have to drive in for even though working fully from home), we exercised her contract right to unpaid leave. At the same time, all these supply chain issues popped up and we bought a house free and clear to escape the big city Covid apartment nightmare. Long story short, I’ve run up the credit card making sure my little girl has all she needs for the foreseeable future, that our pantry and freezers are stocked (and able to run in an outage), and that we have the house at least minimally furnished. It’s racked up. Some days the debt stresses me out, but we don’t have a mortgage and at least I know I have what my family needs.

I can confirm this. It's been that way with them fir over a year.

A path is currently being paved for hyper-inflation and not a correction/collapse. If entities offer forbearance programs, capitalized interest alone will make them billions upon billions.

Well, if he's not full of shit, he's an idiot.

Anyone leaving that kind of money in a bank nowadays is a MORON.

I think people are developing a mentality of:

"Well, if things turn to shit, I'll have the stuff I bought on credit, and just default on my debt."

Pretty sure that if it's really bad, and people feel they have nothing left to lose, that these creditors will have to bring SWAT teams with them, to collect.

Shows you what scum most people are. I' about to pay my off completely.

Are you being paid by the banking cartel? I don’t think the issue is scum. The issue is inflation, vaccine requirements, having to pay megabucks to get real food that is only nominally poisoned, and people being scared of being unprepared for an emergency.

Exactly karma comes to those who do with intent deception of any kind.
Stay pure & stay reaping dharma.

And the poor saps are being charged interest rates that would have made an old Mafia boss blush in shame.

The USA has been taken over by morally bankrupt degenerates.

reset = jubileee

I'm not so sure that is accurate. Remember the line about a mule stuck in a mire--you do what you gotta do.

I'm sort of out of the rat race and don't have to worry about CC debt--I make money off the bastards. 10 years ago I was in the mess many millions are in now. What are you to do if you no longer have the funds to live even a reduced life style due to no fault of your own?

Being decent does not pay off. During the Obumer depression my income fell by almost 40%--and I was lucky in my area. I heard about people having their credit lines cut. I did not think that would happen to me--had over a 800 score. Well, it did--it just took them a few months to get around to me. 150 G's of credit with a little under 20% utilization was slashed to about what I owed. One card, from Chase, had zero balance--50's worth cancelled with one notice "You do not need this credit". As I paid the others down, my credit line was reduced to the new balance. I went from being able to weather a financial storm lasting years to wondering how I was going to keep my house and feed my kids.

Evil is real, and it runs the USA. You think Jesus is going to give a rats ass if you say "fuck you" to the degenerates? I don't.

Still, I would advise people to be reasonable on the splurges--bankruptcy laws are not as generous as they used to be. Plan ahead and don't let your last assets melt away--keep a few months of cash--hidden-not in a fucking bank.

It could just be people trying to buy Chlorine for their swimming pools.
;)

I am actually carrying some debt right now from a recent trip.
Gas cost me $500! I will pay it off this month though without touching my savings.

Saving isn't working well. You can't get much interest. If you invest, good luck. All my investments have been shit since Biden 'won.'

A lot of people were vacationing? I think people are ready to exhale a bit.

Covid is the worst thing I can remember happening to America. I think it knocked the sense out of a lot of people.

LOL

and yet so many idiots here think the housing won't crash.

Switzerland

Not a good idea to get in debt & put yourself in a trade situation.

Mark of the beast for "debt forgiveness".

You will owe nothing and be happy!

Damn, and I just paid off my credit balance. At least I know that when it falls I owe nothing to nobody except my community and my people! Just saying...

The hyper inflated $USD buys less and less each day thanks to free money printing by both Trump and Biden (Banker puppets) and silly low saving rates mean cheap money on loan.

China is using COVID bullshit to lock down exports because they don't want to hold $$$ that are worth less and less in exchange for goods so electrical goods for sale will soon start to run out.

if you need a washing machine or want a new TV then now is the time to get one and if that means using the credit card then so be it.

Now is not a good time to have too much cash in the banks, i pulled mine out and purchased physical silver ready to use when we get a digital only money conversion.

You are right in these regards. These people don't realize but the BEAST system will get its money back.

I think they will present an offer to people in the future of you take this Mark and we will forgive all of your debt or you go to jail and unfortunately most will take the damned Mark.

Rofl no it doesn't.

Jubilee in the Bible is the second coming when all debts are wiped clean.

The Great Reset is when you are brought into bondage.

inflation is outpacing interest.. it's a great idea...

How much did the Mafia bosses take vs the government? A tiny fraction. And the Mafia would actually provide a service.

I pay in full at the end of each month.

Debt owed; debt paid.

Let no man hold debt over you.