— Caller points out credit card debt as a sign that the economy isn’t so good
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Broadcast on January 5, 2024
#davidpakmanshow #economy #creditcarddebt
“Buy now. Pay later.” I’m almost 70 and I heard that in my teens. It’s been around a long time.
I never had a Credit card in my life ???? Love my Debit card. I spend what i can . Im Old School ????????
Bidenomics ???? ????
Christy woukd never be able to rangle the right into any kind of compliance. His party would walk over him
'There is only one official definition of unemployment—people who are jobless, actively seeking work, and available to take a job, as discussed above. The official unemployment rate for the nation is the number of unemployed as a percentage of the labor force (the sum of the employed and unemployed).' In other words, the labor force, which they use to determine the unemployment rate, doesn't include those not looking for work or retired. It only covers those who are working, or unemployed looking for work. So we're talking about a third of the population not counted in the unemployment stats. And they are unemployed, too.
David, Sir, I come to you with tears in my eyes to tell you that these were perfect one calls, the most perfect phone calls that have ever been made.
Because the economy is a lie, Einstein
David really is an idiot. Credit debt as a whole is at an all time high and has hit 1 trillion fucking dollars with the highest interest rates at around 20%. You cannot look back fucking 10 years or more to compare what is happening now because we live in totally different economy that is not even close to being the same. If couples that make over 120k combined is struggling which is the middle class this economy is dogshit like David takes on the economy.
The numbers don't lie but liars use numbers ???? ????
Because it’s not great
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.????
Speaking from personal experience, most credit card debt is just irresponsibility, the I want it now attitude…
The entire concept of credit is you not being able to pay it back in time. That’s how they make money. It’s a predatory system. You need it, sadly. But try not to use it. Have the cash to pay it, use the card, pay it immediately.
Credit is not meant to help you.
I paid off my credit cards about 3 years ago. But I had to switch from one zero % interest card to another when the zero % interest deals expired.
The credit card delinquency rate actually hit an all time historic low during the pandemic of 1.6%. The delinquency rate increase since then has not yet exceeded the longer term average delinquency rate of around 3.74%. The delinquency rate for the fourth qtr of 2023 is around 3.0%.
It is because of recurring charges, like political donations, that people think they are only making once. A lot of people are not checking their statements, probably because everything is online now. You have to be proactive, log in to the website, choose to look at statements and wait for each. one to download (all of mine use PDF). This takes more effort than getting a paper one in the mailbox that you are compelled to see/is harder to ignore.
If the economy is doing so great, then why are so many of us still just above the cusp of homelessness and death?
It's not an automatic disqualifier. You're a convicted insurrectionist? Poof, you're not taking the oath in January. Yeah, no.
Jobs data isnt that good. It keeps getting revised down. All these fake numbers are so that blow hards like David can pretend their side is winning.
Why is credit card dept exploding? Hmm i dont know, maybe its because people pay their dept with another card and that dept with another card and so on. This is like this over decades now. The bubble is bursting soon
I'm so glad that we don't use creditcards in my country!
No its not. Stop lying to people. It might be ok for rich people like you but regular everyday people its not.
With almost 30% interest on credit cards, it's hardly worth it to carry a balance.