I wish this was noteworthy, but it's a paltry sum. The thing that's noteworthy is that the banks are clear that people can't pay their bills. I wish we could get that data plotted on a chart over time and see what's happening to people in the USA at least monthly. With the commercial real estate sector being just a massive loss and most job creation being low wage, and more people in the gig economy with multiple jobs, and credit card debt rising, and medical debt rising, and boomerang sanctions, it's only a matter of time before the working class breaks.
It's okay, we can guard against this by bundling large amounts of high risk debts and use them to back securities
Is this the beginning of households breaking under the taking credit with increased interest rates? I wonder what that would mean over the next couple of years?
The economy is overdue for a recession. I don’t mean that facetiously, we’ve been in a growth stage since 2009.
Of course that’s all in the capitalistic framework, if we didn’t have the need for unfettered growth, recessions wouldn’t be needed either.
What would a recession with inflation look like? They look hesitant to lower rates like they did in 2008.
I have a very basic understanding of economics, but recession would definitely reduce inflation.
I think the real issue is that the "economy" and markets are so disconnected from the reality of the everyday American. Wealth inequality was already bad in 2008, but its only gotten exponentially worse. Who cares if the stock market is good and GDP growth is steady if none of that value is making its way to the workers' pockets. Shit is bad out here but the market movers fail to see that.
So we're Japan then, where you have a new high sounding number as the new normal price.
Given that most people are living paycheck to paycheck, that means they're simply not able to absorb continued increase in cost of living. Meanwhile, we see inflation keep climbing while salaries are stagnant. Something will definitely have to give here.
https://fortune.com/2024/02/01/emergency-1000-expense-most-americans-broke-debt-bankrate/
pg&e announced they'll be trying to curb their planned annual electricity and gas price increases to under 5% from the current nearly 20% over the past two years
Time to fight the only people in the world producing goods that the American people can afford.
i guess commercial real estate debt hasnt started hitting the fan yet huh
until the inevitable reaction occurs, which is bringing back debtors prisons (jk they'd just put debtors in regular prisons)
Americans would absolutely love that... Or as least be subdued into thinking it's a good and fair idea.
Ever seen the comment section of a video showing a car being repoed?
Ever seen how cruel they are to the homeless?
"Haha should've paid the car note" and "haha next time work harder so you aren't homeless" will escalate to "haha should've never gotten into debt"
The spectacle of these shows is wild. Parking Wars, watch as people struggle to get their car back from a byzantine bureaucracy that they need to go to work the next day or their entire life might just spiral out of control. Dog the Bounty Hunter, watch as this coked up dude hunts poor people for sport in sanctioned bounties. Operation Repo, watch as we film a 100% fake show of people screaming and getting violent over repo workers gleefully stealing their stuff they need. Storage Wars, let's see how much money I can make selling someone's loss. Most trash reality that's gotten popular on A&E is predicated on just someone's suffering and exploitation and it's just normal to watch and be like "hehe, sucks to suck, I'll never be like that" when they're a paycheck away from being homeless themselves.
Storage Wars, let’s see how much money I can make selling someone’s loss.
I seen few episodes, and they screamed "fake", especially the part where they were appraisning old TV's from 90's and broken electro tools for hundreds of dollars.
this is the only conclusion I can see to the Oregon city that escalated their desire to fine people for being homeless and "camping" to the supreme court.
You already know they have nothing, what's the point of the fine? Oh.
It makes me really uneasy having 20k in student loans i've been ignoring, I tell you whut
Why's Benjamin Franklin on a 1 dollar bill
Jk it's because it's AI generated probably. There's a 100 next to the 1 lol
Yeah it's an "AI" image.
The other text is nonsense as well just with familiar shapes and textures.
