Everybody Was Kung Fu Fighting
Big Fun here in Importlandia
Credit card debt, the amount owed by all Americans on their credit cards, rose to a record $1.13 trillion at the end of last year, the Federal Reserve Bank of New York reported Tuesday.
Card balances increased by about $50 billion, or 4.6%, in the fourth quarter of 2023.
Credit card delinquencies, the amount of time in which cardholders fall behind in making payments, also increased. The percentage of card delinquencies 90 days or more rose to 6.4% from 4% in the fourth quarter of 2022.
Card debt contributed to the rise in total household debt, the amount owed by all members of a household, which rose to $17.5 trillion, an increase of $212 billion in the same period.
https://www.zerohedge.com/markets/february-us-spent-double-what-it-collected-2024-budget-deficit-second-highest-ever-debt
The Journal of Lingering Sanity is a reader-supported publication from Old Gold Mountain (Chinese: 旧金山. We are beholden to truth not party. Ko-fi.com/thejournaloflingeringsanity
I do love this credit bullshit, they're paying us like 0.5% ROI on our bank savings and that past twenty years still charging the niggas 20-40% roi for credit card debt
WInning
Don't forget the credit reporting agencies, the first social credit system.