Yeh… let’s issue more credit cards rather than gov resolving the real issue. As usual. Then let the people get into more debt.
This is part of the Great Reset agenda. “You will own nothing and be happy”.
People have to go bankrupt before to 2030. Then you’ll become a serf with CBDC, UBI, Social Credit score etc.
Conservatives and Labour are completely on board with this one.
I mean… If inflation gets high then it does actually make sense to spend on credit. When Venezuela was experiencing its crazy inflation the people who could would just get huge loans, spend that money, then by the time it comes due its inflated away to nothing.
We’re not there yet, but I suppose if your cards APR was low enough you could do it to a lesser degree.
they’ll be hundreds of people defaulting on their loans/mortgages through this year. specially those who were loaned by the government thought the help to buy schemes. the payback rising interest and coupled with rising cost of energy/food is going to really hurt some.
on another note, i know someone who took out a loan to go on holiday to dubai. good times.
Not necessarily a sign of desperate poverty in itself.
A lot of middle class people have a lot of money at the moment, and are chucking expensive projects like building works onto cards.
But there are plenty of other signals at the moment of desperate poverty.
This is also not as clear as it seems. Credit card borrowing DECLINED sharply during covid. It’s only natural that it will rise once people start spending again.
The great thing? Default rates haven’t gone up so far.
I’m waiting for the MPs to come out and tell us how all this borrowing and indebtedness is all the *little guy’s fault*.
According to my calculations, its about 3-4 weeks off for laying the blame on the average bloke, whilst ginning it up and drowning in wine, as per Party Central PM would ordain.
and BNPL users are losing their minds over the plans for Klarna to start reporting to the CRAs. How much of this spending is for essential items? Probably not much.
Doesn’t make it clear if that is money going o to cards which is remaining on them or if the borrowings are being paid back the next month / 56 days so not actually incurring interest. That’s 2 different scenarios
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Yeh… let’s issue more credit cards rather than gov resolving the real issue. As usual. Then let the people get into more debt.
This is part of the Great Reset agenda. “You will own nothing and be happy”.
People have to go bankrupt before to 2030. Then you’ll become a serf with CBDC, UBI, Social Credit score etc.
Conservatives and Labour are completely on board with this one.
I mean… If inflation gets high then it does actually make sense to spend on credit. When Venezuela was experiencing its crazy inflation the people who could would just get huge loans, spend that money, then by the time it comes due its inflated away to nothing.
We’re not there yet, but I suppose if your cards APR was low enough you could do it to a lesser degree.
they’ll be hundreds of people defaulting on their loans/mortgages through this year. specially those who were loaned by the government thought the help to buy schemes. the payback rising interest and coupled with rising cost of energy/food is going to really hurt some.
on another note, i know someone who took out a loan to go on holiday to dubai. good times.
Not necessarily a sign of desperate poverty in itself.
A lot of middle class people have a lot of money at the moment, and are chucking expensive projects like building works onto cards.
But there are plenty of other signals at the moment of desperate poverty.
This is also not as clear as it seems. Credit card borrowing DECLINED sharply during covid. It’s only natural that it will rise once people start spending again.
The great thing? Default rates haven’t gone up so far.
I’m waiting for the MPs to come out and tell us how all this borrowing and indebtedness is all the *little guy’s fault*.
According to my calculations, its about 3-4 weeks off for laying the blame on the average bloke, whilst ginning it up and drowning in wine, as per Party Central PM would ordain.
and BNPL users are losing their minds over the plans for Klarna to start reporting to the CRAs. How much of this spending is for essential items? Probably not much.
Doesn’t make it clear if that is money going o to cards which is remaining on them or if the borrowings are being paid back the next month / 56 days so not actually incurring interest. That’s 2 different scenarios