People are living on credit cards and getting screwed

Walt said:
If you payoff your entire balance, every month, you usually get between 1% and 5% of whatever you spend back, and get a better return policy on what you buy. Basically, the non-credit card users are being charged extra, so people who pay off their balance can get a discount.
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This is effectively an argument banks make to keep you running on tick. They make money out of it (in merchant fees).

Some merchants are rebelling against this, offering discounts to those that pay with cash. Many gas stations do this, for example.
 
I have a bunch of cards and I play the points game. I get anywhere from 2-5% cash back on everything I buy. Every bill I have is paid via credit card, and they are automatically paid off each month. I also have an Amex card because of the travel benefits. I haven't carried a balance in years. I just paid cash for a car, even though it probably would have been smarter to finance it, my wife abhors any debt so I gave in.

Too many people are house poor and have to rely on credit, and when things get rough, they can't keep up.

Biden is not responsible for the reckless spending of Trumptards.
 
goat said:
The US cannot and will not pay for its debt. This is happening in our lifetime.
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This has been happening for some time already. It is literally using bonds to pay off bonds, and trying to print it's way out it's predicament, causing inflation.
 
T. A. Gardner said:
Right now, people are living more and more on credit cards. 55% of Americans are carrying a balance on their credit cards.


https://www.cnbc.com/2019/05/17/55-percent-of-americans-have-credit-card-debt.html

The average debt owed right now is between $2,500 and $6,000.
https://www.creditkarma.com/insights/i/average-credit-card-debt

Interest rates are now the highest they've been in almost three decades.


https://www.msn.com/en-us/money/per...e-highest-they-ve-been-since-1991/ar-AA13XTI2

Americans are increasingly being fucked by having to use credit cards to make ends meet, and you don't see Joke doing a goddamned thing about it, even as he is a major cause.
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Joke said even though 75% of Americans say US on the wrong path he does not plan to do anything different.

 
Walt said:
The problem happens if the USA cannot service its debt. Everything points to servicing the debt as not being a problem.
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It IS the problem already.
Walt said:
Besides, the USA can pay its entire debt. The debt is owed in US Dollars that can be created by the government. The government can pay the entire debt off by issuing money. It would cause high inflation, but if it were an emergency like you claim, it could, and would be done.
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This is not paying off the debt. It is like you paying off your mortgage with Monopoly money. All this tactic does is transfer the debt to massive inflation. The dollar becomes worthless.
And those that are being paid off with the worthless money might very come to collect one way or another, perhaps violently.

It's not just the U.S.

Like I said, this is the stuff world wars are made of.
 
ExpressLane said:
Joke said even though 75% of Americans say US on the wrong path he does not plan to do anything different.
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It was an odd statement.

The questions about him running again are still in the air. I expect Biden to start downplaying that early next year. If he runs again, he's as insane as Trump doing the same.
 
Geeko Sportivo said:
The people have voted! Don't look back dude- Look forward!

The cheerleading for Donny Boy and his goon squad candidates is over!

Stop crying over spilled milk and sour grapes.
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That doesn't make the problems caused by Biden and Democrats go away.
Due to election fraud by Democrats, the 'people have voted' refrain is getting a little thin. Verrrrry dangerous!
 
Dutch Uncle said:
It was an odd statement.

The questions about him running again are still in the air. I expect Biden to start downplaying that early next year. If he runs again, he's as insane as Trump doing the same.
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Biden plans on running. But the donors won't back him so he is going to be off to the nursing home instead.
 
Concart said:
I have a bunch of cards and I play the points game. I get anywhere from 2-5% cash back on everything I buy. Every bill I have is paid via credit card, and they are automatically paid off each month. I also have an Amex card because of the travel benefits. I haven't carried a balance in years. I just paid cash for a car, even though it probably would have been smarter to finance it, my wife abhors any debt so I gave in.

Too many people are house poor and have to rely on credit, and when things get rough, they can't keep up.

Biden is not responsible for the reckless spending of Trumptards.
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And they lose the house.
Presidents aren't authorized to spend money. Only the House has that authority...Democrats.
 
Concart said:
I have a bunch of cards and I play the points game. I get anywhere from 2-5% cash back on everything I buy. Every bill I have is paid via credit card, and they are automatically paid off each month. I also have an Amex card because of the travel benefits. I haven't carried a balance in years. I just paid cash for a car, even though it probably would have been smarter to finance it, my wife abhors any debt so I gave in.

Too many people are house poor and have to rely on credit, and when things get rough, they can't keep up.

Biden is not responsible for the reckless spending of Trumptards.
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It is the college students or recent grads ,that voted so heavily Democrat, Biden says they are struggling , and need student debt forgiveness.
 
ExpressLane said:
Biden plans on running. But the donors won't back him so he is going to be off to the nursing home instead.
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He says so but I'm betting he won't because Jill won't like it.

IMO, the only reason he says he will is to avoid being tagged a Lame-Duck. He wants to go out a winner. If the economy turns around (not that Presidents can wave a wand) and some good bills get signed, I think he'd even resign (medical reasons is a good excuse) so that Harris can run as an incumbent.

Do you think Trump is insane enough to run again?
 
Walt said:
The problem happens if the USA cannot service its debt. Everything points to servicing the debt as not being a problem.

Besides, the USA can pay its entire debt. The debt is owed in US Dollars that can be created by the government. The government can pay the entire debt off by issuing money. It would cause high inflation, but if it were an emergency like you claim, it could, and would be done.
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No reason to pay the debt. And the US can EASILY service the debt, they've been able to borrow at basically 0% for a number of years. The Trumptards are cranky, and they are lashing out. This thread is just incredibly lame. No one holds a gun to someones head and makes them borrow. But the reality is that the party that wants to help working people is the DEMOCRATS. So whining about not being able to make ends meet while you are voting for Republicans is laughable.
 
T. A. Gardner said:
Right now, people are living more and more on credit cards. 55% of Americans are carrying a balance on their credit cards.


https://www.cnbc.com/2019/05/17/55-percent-of-americans-have-credit-card-debt.html

The average debt owed right now is between $2,500 and $6,000.
https://www.creditkarma.com/insights/i/average-credit-card-debt

Interest rates are now the highest they've been in almost three decades.


https://www.msn.com/en-us/money/per...e-highest-they-ve-been-since-1991/ar-AA13XTI2

Americans are increasingly being fucked by having to use credit cards to make ends meet, and you don't see Joke doing a goddamned thing about it, even as he is a major cause.
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There is a difference between average balance and revolving debt. My average credit card balance for the last few months has probably been about $5000 (doing house updates) but I haven't paid a penny in interest because I pay it off every month.
 
Concart said:
No reason to pay the debt. And the US can EASILY service the debt, they've been able to borrow at basically 0% for a number of years. The Trumptards are cranky, and they are lashing out. This thread is just incredibly lame. No one holds a gun to someones head and makes them borrow. But the reality is that the party that wants to help working people is the DEMOCRATS. So whining about not being able to make ends meet while you are voting for Republicans is laughable.
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11% of all government spending is used just servicing the debt. Imagine if 11% of everything you made went to just paying interest. Not a good family finance model.
 
Concart said:
No reason to pay the debt. And the US can EASILY service the debt, they've been able to borrow at basically 0% for a number of years. The Trumptards are cranky, and they are lashing out. This thread is just incredibly lame. No one holds a gun to someones head and makes them borrow. But the reality is that the party that wants to help working people is the DEMOCRATS. So whining about not being able to make ends meet while you are voting for Republicans is laughable.
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Hey fake investor and "economist". Here, learn something. You stupid fucking welfare collecting democrat. https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/
 
'People can't pay their bills'

Dems: Let's raise the minimum wage.

Republicans: FUCK NO!!!! YOU WILL KILL BUSINESS.

LOL. Such hypocrisy is beyond the pale.
 
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