Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 6 months ago

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

Frank [he/him, he/him] · 6 months ago

I wasnt really old enough to follow what we going on, but I think the .com bubble was like this. "get a website! E-commerce! Unlimited weatlh and beauty" and somehow no one stopped to consider that while E-commerce might be convenient, it wasn't going ot create much in the way of new markets. And then in 99 everything crashed and the end of history ended for the first time.

footfaults [none/use name] · edit-2 6 months ago

If anything e-commerce just cannibalized revenue from brick & mortar stores and killed malls. So the tech stocks popped while RIETs got killed

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.

The great American boom is finally running out of steam, leaving mountains of debt