Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says

[Paulos23]

Credit Card debt has nothing to do with any party but has to do with the "buy it now, pay later" attitude that has been pushed on us by marketing.

Not to mention that many people don't have any savings for emergencies and those tend to go on the credit card and never get paid down

 

[HARK!]

 

[HARK!]

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War has way of devaluing fiat currencies; and fiat currencies have a life cycle. The life cycle of the US dollar is nearing its' end.

 

[Hans Blaster]

War has way of devaluing fiat currencies; and fiat currencies have a life cycle. The life cycle of the US dollar is nearing its' end.

First, shiny metals are a silly thing to rack up CC debt for (you know, the subject).

Second, what war?

 

[HARK!]

First, shiny metals are a silly thing to rack up CC debt for (you know, the subject).

If that's the case; why are central bankers, all over the world, creating more funny money to buy it up as fast as they can lay their hands on it?

It's a hedge against inflation of fiat currency. Inflation is what is causing the ramp in CC debt. People are buying their groceries on credit.

Second, what war?

All of them. The current one with Russia is nothing to sneeze at.

 

[Hans Blaster]

If that's the case; why are central bankers, all over the world, creating more funny money to buy it up as fast as they can lay their hands on it?

Sure.

It's a hedge against inflation of fiat currency. Inflation is what is causing the ramp in CC debt. People are buying their groceries on credit.

I thought that was from job losses that people by groceries on credit.

All of them. The current one with Russia is nothing to sneeze at.

And Russia's economy isn't doing well, but that has nothing to do with our economy.

 

[HARK!]

Sure.

Are you conceding on that point; or is that your answer to my question?

I thought that was from job losses that people by groceries on credit.

Job losses are part of the picture. When people can't afford to buy products; employers need to downsize to stay in business.

Another part of the picture is that as costs rise due to inflation; wage increases are not keeping in step; so those who manage to keep their jobs, are feeling the squeeze too.

And Russia's economy isn't doing well, but that has nothing to do with our economy.

World economies are all connected.

Europe depends heavily on Russian energy. That energy is being cut off. That means that there is less energy on the market. Europe's people are struggling to heat their homes. Their economy is in the dumper.

As this world runs on energy, it boggles my mind that the price of oil is being suppressed in the face of short supply and rising inflation.

Wars burn a lot of energy too. I don't believe that it's coincidence that Iran, and Venezuela, have recently become sharp points of interest.

I believe that WWIII is already started; and I suspect that this ruse will soon come to an end.

However, I still pray for peace.

 

[Hans Blaster]

Are you conceding on that point; or is that your answer to my question?

I thought the sardonic 500 eyerolls were implied but...

Job losses are part of the picture. When people can't afford to buy products; employers need to downsize to stay in business.

Another part of the picture is that as costs rise due to inflation; wage increases are not keeping in step; so those who manage to keep their jobs, are feeling the squeeze too.

I forgot the tarifs.

World economies are all connected.

Europe depends heavily on Russian energy. That energy is being cut off. That means that there is less energy on the market. Europe's people are struggling to heat their homes. Their economy is in the dumper.

Europe is mostly done with Russian fossil fuels.

As this world runs on energy, it boggles my mind that the price of oil is being suppressed in the face of short supply and rising inflation.

Suppressed how?

Wars burn a lot of energy too. I don't believe that it's coincidence that Iran, and Venezuela, have recently become sharp points of interest.

From whom?

I believe that WWIII is already started; and I suspect that this ruse will soon come to an end.

Good grief.

However, I still pray for peace.

Could you do less?

 

[Tuur]

If that's the case; why are central bankers, all over the world, creating more funny money to buy it up as fast as they can lay their hands on it?

Because stupid is as stupid does?

Don't go into dept over speculative deals. Just don't. The bottom could drop out and then you're left owing more than what you bought is worth. That's how a lot of banks got in trouble when the real estate bubble popped.