So read an article here on yahoo saying that with inflation making everything more expensive, instead of Americans holding off certain purchases they keep buying by instead running up their credit card debt like crazy.
Now my question.. when do you see this consumer credit bubble collapse? I mean it seems in the US people can just keep piling up debt, opening new credit lines, so anybody can put a timeframe on when something like this will go wrong maybe based on how this went historically? Or can this really keep going for a long time before anything happens?
I live in Europe and over here you get rejected alot faster while in the US it seems credit card companies don't care giving away more or new credit thinking worst case they can be bailed out again.
Submitted September 15, 2022 at 03:43AM by ThinkBigger01 https://ift.tt/4628v1z
