Highest balances ever, highest increase ever, the Joe Biden economic wonder continues apace :biden-troll:
The figures suggests Americans’ are starting to rely more on credit as savings built up on the back of government pandemic-relief funding dries up. Bloomberg Economics estimates that households earning less than $90,000 a year will have exhausted their financial cushions by February.
:doomer:
“What is debt anyway? A debt is just the perversion of a promise. It is a promise corrupted by both math and violence.” -- David Graeber
“Debt is the most effective way to take a relation of violent subordination and make the victims feel that it's their fault.” -- David Graeber
“Student loans are destroying the imagination of youth. If there's a way of a society committing mass suicide, what better way than to take all the youngest, most energetic, creative, joyous people in your society and saddle them with, like $50,000 of debt so they have to be slaves? There goes your music. There goes your culture. There goes everything new that would pop out. And in a way, this is what's happened to our society. We're a society that has lost any ability to incorporate the interesting, creative and eccentric people.” -- David Graeber
“Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt; the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all.” -- David Graeber