The Bidenomics Destroy America plan is coming together. Of course it's being helped by hundreds of millions of peasants charging bauble shit like electronic toys, macho Mega sized cars and Taylor Swift 4-digit $ tickets they only need to sate their instant gratification, feel good lust.
What did you EXPECT? You give everybody thousands of dollars of play money. A lot of them are not used to having so much extra cash so they quickly start adjusting their lifestyle to fit their new found wealth. And then the 'wealth' stops, so you have to find money somewhere: credit cards. The problem though is that Joe can give you money that your great great great grandchildren will have to pay back, but YOU will have to pay it back YOURSELF. But don't fret, I am sure Joe will come up with some kind of Credit card Debt Forgiveness Program, guess what, to be paid back by your great great great grandchildren's great great great grandchildren.
If people believed we are headed into Weimar-level inflation, maxing out their CC's planning to pay them with inflated dollars would actually be rational.
Given the level of history and economics knowledge in the general population, I'm assuming it's a combination of poor impulse control and an inability to adjust lifestyles to the new higher-cost reality.
Cards are nice but if you can't pay it off in full at the end of the month, you didn't need it or should not have bought it one. I still save up for some things I want to buy. How old fashioned eh?
You can be arrested for that sort of thing now. Did you know that? At the very least you are on some sort of terrorist watch list, as everyone knows that only dangerous people pay as they go. Prolly White, too.
this is a particularly bad time to rack up debt
ReplyDeleteNot if you don't have any intention of paying it off.
The Bidenomics Destroy America plan is coming together. Of course it's being helped by hundreds of millions of peasants charging bauble shit like electronic toys, macho Mega sized cars and Taylor Swift 4-digit $ tickets they only need to sate their instant gratification, feel good lust.
ReplyDeleteWhat did you EXPECT?
ReplyDeleteYou give everybody thousands of dollars of play money.
A lot of them are not used to having so much extra cash so they quickly start adjusting their lifestyle to fit their new found wealth.
And then the 'wealth' stops, so you have to find money somewhere: credit cards. The problem though is that Joe can give you money that your great great great grandchildren will have to pay back, but YOU will have to pay it back YOURSELF.
But don't fret, I am sure Joe will come up with some kind of Credit card Debt Forgiveness Program, guess what, to be paid back by your great great great grandchildren's great great great grandchildren.
If people believed we are headed into Weimar-level inflation, maxing out their CC's planning to pay them with inflated dollars would actually be rational.
ReplyDeleteGiven the level of history and economics knowledge in the general population, I'm assuming it's a combination of poor impulse control and an inability to adjust lifestyles to the new higher-cost reality.
Cards are nice but if you can't pay it off in full at the end of the month, you didn't need it or should not have bought it one. I still save up for some things I want to buy. How old fashioned eh?
ReplyDeleteYou can be arrested for that sort of thing now. Did you know that? At the very least you are on some sort of terrorist watch list, as everyone knows that only dangerous people pay as they go. Prolly White, too.
Delete