Graph of total US credit card debt, notice the spike over the last few months?

submitted by magnora7 from lendingtree.com

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[–]Tarrock 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (5 children)

Worth noting that the last 2 peaks were at the start of the 2008 recession and after everyone lost their jobs due to covid. Now it's just inflation and recession.

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Good points, but if you look closely the last peak was actually late 2019, right before covid... I think we were on the cusp of an economic breakdown and covid "saved" us (or at least kicked the can down the road for a couple more years)

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

That's long been my take, as well. I thought the mRNA shots were an attempt to kickstart a new industry to infuse life into our dying economy.

[–]Alphix 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

And Powell jacking up rates because "the economy is too strong" (doing it on purpose actually).

[–]EddieC 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

"Inflation Is Coming! and what to do about it", by Ralph Borsodi
Read pages 36 - 43 for Borsodi's five-fold plan to deal with it
BUT note also pages 44 - 45 for "What people will actually do?" and finally Government confiscation...
 
There is a simple way to prevent this future from happening:
Let's Imagine & Discuss: "What If We Decorporatize?"
 

[–]Virc 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Hey Tarrock could you please send a PM. I got some questions about a post you made as I'm investigating the Reddit mod in person