Lions and friends…
Today 51% of Americans can’t pay off their entire balance each month and instead let it revolve to the next month, accruing interest, according to its annual credit card satisfaction survey.
With that, according to a small business survey, more than half of U.S. small business owners believe the economy is already in a recession.
GM
Credit cards and other debt have been used to mask a recession that never ended for the worker since 2008 in real terms. Now that inflation is far far outpacing wages, it can not be hidden.. it is unsustainable. The difference between your wage and what it costs t o live is now called "your credit card" rather than "your retirement savings"
I have never had a credit card, and I never will! I have always managed to live within my means. It has meant going without at times, but I'm debt free for the most part.