It’s unsecured debt. Watch the defaults, banks take the hit but they get to write it off. They created the loan out of thin air - they lose nothing but rather have write-off’s for the profitable side of the business.
This is beyond ominous Greg. I have so many family and friends asking for $$$ help as they’ve tapped the cards to the limit. Sad situation. Unfortunately, many folks across this country are going to be wrecked financially because they can't control their spending and/or never saved enough for a rainy day.
I have been using cash only for over ten years. Closed all my bank accounts then too and set off on a different life, a life without banking. It's been difficult but I made it. Soon nobody will have cash or bank accounts and they'll be like me, but if more people closed their bank accounts of their own accord, there would be so many more things we could do. It would free us up. I am alone in this and that is why it is hard but it would be plum easy if many other people did the same because they would be working on alternatives. But instead everyone is waiting around for the banks to do it to them.
Well, no CC debt here. Closed on my first rental home last, and already occupied. Just grabbed 100oz of buffalo rounds. Helped my daughter with her financial stuff. Circling the wagons, pulling the family in. I still not sure about keeping much cash around.
It is sad that so many people think that their worth is how the neighbors think about them. It ain't keeping up with the Jones' anymore it's keeping up with the Kardashian's plus whatever twenty something "influencer" on Tick Tock has or has done.
All THIS and a Black Swan event or war coming soon, OR a fun filled " Alien " invasion to take everyone's mind off the total destruction of the Ponzi scheme/ Scam they have been running since 1913,................... it has to end sometime. Just a wee bit more blood sucking and it will turn to crap !!
Mr. Greg. People are much more street smart than you think. Did you ever consider that people -- especially those with no hard asset ownership as homes and cars and instead are renters and lessees -- consciously max out their cards, get new ones and max them out ?? They see the government do it. They see corporations do it. All with no repercussions. Perhaps this is the younger generation saying "Fuck You" to the controllers, even though they don't understand it. Declare bankruptcy, and walk away, just like their parents did in 2008.
My total credit card balances are just under $1 trillion. I pay the minimum payment every month on time. The only thing I need now is a credit limit increase on each of my cards! 👍 BTW, if anyone has any extra money they don't need, I'm setting up a GoFundMe later today for a down payment on Greg's Camaro.
Individual debt increase is doubly inflationary. (1) Represents dollars chasing goods and services and (2) increases bank assets which increases M2 money supply!
It’s unsecured debt. Watch the defaults, banks take the hit but they get to write it off. They created the loan out of thin air - they lose nothing but rather have write-off’s for the profitable side of the business.
Money for nuthin
Yeah that’s how it works
Being debt free is a great feeling. Never live beyond your needs.
produce more than you consume
This is beyond ominous Greg. I have so many family and friends asking for $$$ help as they’ve tapped the cards to the limit. Sad situation. Unfortunately, many folks across this country are going to be wrecked financially because they can't control their spending and/or never saved enough for a rainy day.
The kind hand of credit turns into a double barrel shotgun that blows off your financial head!!As soon as you grab it to help you up.
sad...using credit to maintain their lifestyle
I have been using cash only for over ten years. Closed all my bank accounts then too and set off on a different life, a life without banking. It's been difficult but I made it. Soon nobody will have cash or bank accounts and they'll be like me, but if more people closed their bank accounts of their own accord, there would be so many more things we could do. It would free us up. I am alone in this and that is why it is hard but it would be plum easy if many other people did the same because they would be working on alternatives. But instead everyone is waiting around for the banks to do it to them.
How long till max pain, Obviously that is everyone's question.
Soon we are watching a horror in slow motion!!
In eastern Europe and Africa as well as we continue our provocations.Where are there NOT US troops?
At home?
LOL.Seems that way.
And soon yhere will be even more in Ukraine along with $40 billion $ more of our tax currency
Well when it comes down to eating or pay bills
I live simple, Ill be okay. only 10k left of student debt. and my 140k mortgage. Trying to get to that debt free life.
"Debt free" is unattainable in US.Everything is taxed,even your income.
well, one hurdle at a time. ya know?
🤣😂 someone always rains on parade
That someone is usually the US govt
Yessir I do.
Well, no CC debt here. Closed on my first rental home last, and already occupied. Just grabbed 100oz of buffalo rounds. Helped my daughter with her financial stuff. Circling the wagons, pulling the family in. I still not sure about keeping much cash around.
EZ way out....cc debt is unsecured! Call your cc company and tell them you are defaulting or use Greg’s method and leave them “holding the bag”!
I did it this month sticking it to the man and their 28% rate and going higher
It is sad that so many people think that their worth is how the neighbors think about them. It ain't keeping up with the Jones' anymore it's keeping up with the Kardashian's plus whatever twenty something "influencer" on Tick Tock has or has done.
So sad.
All THIS and a Black Swan event or war coming soon, OR a fun filled " Alien " invasion to take everyone's mind off the total destruction of the Ponzi scheme/ Scam they have been running since 1913,................... it has to end sometime. Just a wee bit more blood sucking and it will turn to crap !!
Mr. Greg. People are much more street smart than you think. Did you ever consider that people -- especially those with no hard asset ownership as homes and cars and instead are renters and lessees -- consciously max out their cards, get new ones and max them out ?? They see the government do it. They see corporations do it. All with no repercussions. Perhaps this is the younger generation saying "Fuck You" to the controllers, even though they don't understand it. Declare bankruptcy, and walk away, just like their parents did in 2008.
Inflation is just getting started.
My total credit card balances are just under $1 trillion. I pay the minimum payment every month on time. The only thing I need now is a credit limit increase on each of my cards! 👍 BTW, if anyone has any extra money they don't need, I'm setting up a GoFundMe later today for a down payment on Greg's Camaro.
🤣😂
Young families I know are charging everything to make ends meet. Their combined income of about 70k isn’t enough
Individual debt increase is doubly inflationary. (1) Represents dollars chasing goods and services and (2) increases bank assets which increases M2 money supply!