tl;dr: increased credit card usage
Up until recently, most Americans benefited from a few government-supplied safety nets, most notably the large injection of stimulus money, which left many households sitting on a stockpile of cash that enabled some cardholders to keep their credit card balances in check.
But that cash reserve is largely gone after consumers gradually spent down their excess savings from the Covid-19 pandemic years.
It is absolutely insane to me that anyone thinks the stimulus money left households sitting on a stockpile of cash.
As though millions of people on the edge is poverty sat like dragons upon a mountain of wealth.
Seriously, they don’t even have a grasp on now little that money was even worth. That shit evaporated the instant it arrived just to pay off some of the interest on existing debt.
Exactly. That shit was a months rent. Anyone still talking about it is just stirring up bs
There are a lot of people conditioned to see the little guy getting money as some kind of affront to freedom. Most of them are the little guy as well, unfortunately.
Lol. The PPP loans is where all the money disappeared to. Yes people got some money but it was spent for necessities, and to be honest it wasn’t even that much. Some business got hundreds of thousands to millions of dollars that the government is still trying to recover which they probably never will.
What I really need right now is yet another article explaining to me how I’m actually better off now than I was a year or two ago, I’m just too stupid or whatever to realize it. Inflation was kicking our ass, and then we had two separate student loans kick in at once, on top of taking on a shitton of debt to take care of some of the broke boomers in our lives.
Have you tried any of the following:
- Stop buying avocado toast
- Pull yourself up by your bootstrap
- Not being poor
/s
on top of taking on a shitton of debt to take care of some of the broke boomers in our lives
You might consider making some different choices
Well, it’s that or let people who never shared in the spoils of that generation’s fabulous wealth go homeless, so, in a word: no.
