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American Household Credit Card Debt Study - Nerdwallet Article

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First published at 19:24 UTC on February 23rd, 2022.

#debt
#economy
#bubble

BackToConstitution

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We have a stock market bubble and that could crash. We have a real estate bubble and that could crash. We have a consumer debt crisis and if the economy does poorly, people won't be able to pay their mortgages or their credit card debts. Student loans could also default. Who backs all these debts? Certainly not the bankers. They are on the receiving end of all categories of debt. You back all student loans and those who try to wipe out debt with a bankruptcy find they can't wipe it out. It has to be repaid over time. What I see is a wealth transfer system where our money goes to bankers for interest on money they created out of thin air.

Article:
https://www.nerdwallet.com/blog/average-credit-card-debt-household/

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