Americans rack up $19 billion in credit card debt in one month
Americans rack up $19 billion in credit card debt in one month
Wells Fargo reports a surge in U.S. consumer credit card debt, indicating potential financial stress among households.
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oooOoOoo - getting dangerously close, aren't we? What happens when say people take out more credit than US banks can actually honour?
This... Americans Are Tapped Out
Fair... but what I was alluding to is a banking crash that will make the "great recession" seem like a fart in the wind.
Think the LA riots, but in every major city, military being mobilised, civil war, the next violent revolution, what have you - because that debt hole will make a crater out of society.
And no, you don't want violent revolution. Why? Germans didn't become Nazis overnight. The economic collapse after WW1 put Germans in the position of being forced to bring wheelbarrows of cash to the store for a single loaf of bread. This made German people so desperate and angry that... well, you know the rest.
Why do you sound excited? This would literally ruin the entire century and maybe the next one.
...I did? I'm sorry, that was not the intention. Could you please point out which phrases and sentences that raised concerns?
Or was it the first post? The "oooOoOoo" part? Maybe I was a bit hamfisted, but I was trying to allude to historic cases of massive bank defaulting. Perhaps I was a bit brash.
You're fine, it did come off a bit like some accelerationist fanfic I've heard