1 trillion credit card debt

[Anonymous No.55790444]

This has to be the trigger along with student loan repayments right? Are any of you holding cash until this shit triggers or are you DCAing into Bitcoin/metals?

[Anonymous No.55790473]

>>55790444
How do they factor in people who pay off their balances every month? I probably have $6k in 'debt' between all my cards, but I don't carry a balance. As fewer and fewer people use cash for transactions, and since you don't get bonuses for using a debit card, wouldn't this number be expected to keep going up?

[Anonymous No.55790485]

Got to pump those numbers up

[Anonymous No.55790491]

200 million Americans with $5k between all their cards is $1 trillion. That's hardly suprising. I actually thought it'd be higher

[Anonymous No.55790496]

>>55790444
Depends on your time horizon.. can dca into majors but keep some powder for red dildos

[Anonymous No.55790506]

>>55790444
what happens when everyone declares bankruptcy?

[Anonymous No.55790553]

>>55790491
Fuck any headline that puts absolute $ instead of the $/capita. It's always ragebait.

[Anonymous No.55790595]

>>55790444
I have 250k and I still get approved for new cards

[Anonymous No.55790642]

>>55790595
thats because youre an alpha male

[Anonymous No.55790659]

>>55790473
You are a economic timebomb, and there are millions like you. If America were to ever have Depression-style layoffs and unemployment, our country MATHEMATICALLY COULD NOT recover.

[Anonymous No.55790696]

>>55790659
I'd be fine, thanks

[Anonymous No.55790697]

People keep bringing up student loans, and I think it will be hard to know what will happen. It's been a couple of years, which means people should have saved up some money to pay it back. But then again, this is America, and people don't know how to save, only spend. Hopefully shit pops off. September is notoriously a shit month for stock.

[Anonymous No.55790722]

>>55790491
>>55790553
You honestly think thats how its distributed? Fucking retards kek.

[Anonymous No.55790764]

>>55790722
No, it's a bunch of financial retards with a ton of debt, and a majority of people doing just fine. Headline is clickbait and ragebait for financially illiterate retards, and you're pretty good proof that it's working.

[Anonymous No.55790776]

>>55790444
Whether or not it is the actual precipitating event, the narrative will be student loan deadbeats ruined everything.

[Anonymous No.55790789]

>>55790444
I’m just not gonna pay it back (the debt)
ugh I know
I KNOW SORRY
its just
I’m not gonna pay it back is all
HAHAHAHA

[Anonymous No.55790840]

6 figures in cash, real cash not some numbers on a screen, low 7 figures betting on a collapse.

[Anonymous No.55790912]

>>55790697
>which means people should have saved up some money to pay it back.
You're a funny fuckin guy.

[Anonymous No.55790948]

>>55790444
>each americunt owes more than $500
>half of all americunts has $0 for an immediate spending
They can’t jail us all. When you owe a bank $1000 it’s your problem, when y’all owe bank 1 trillion, it’s bank’s problem

[Anonymous No.55790955]

>>55790444
What the fuck?

[Anonymous No.55790969]

>>55790948
I’m retarded it’s $2k+ per head

[Anonymous No.55790977]

>>55790444
You can set triggers with Blackswan trading bot. More info at blackswan dot biz

[Anonymous No.55790979]

>>55790659
I never carry a credit card balance. Waiting for the pristine moment to debtmaxx.

[Anonymous No.55790988]

>>55790912
Yea, that's what I thought. For people that are living paycheck to paycheck, this is going to fuck them over.

[Anonymous No.55790989]

>>55790969
What if the government said each person over 18 must pay $2k immediately, and each person under 18 will have to pay it later with interest, or the country collapses and you are subjected to treaty of Versailles tier exploitation by (((debtors)))?

[Anonymous No.55790997]

>>55790977
no one is making money off the bot. thats why you need exit liquidity

[Anonymous No.55791071]

>>55790659
You say that like it's a bad thing

[Anonymous No.55791127]

>>55790659
This is essentially how everyone operates. Just because they have "credit card debt" doesnt mean that they couldn't immediately pay it all off if something necessitated that. Yes, there are exceptions to that obviously. But everyone I know uses credit cards to pay for everything because the system incentivizes that. I take a "free" vacation every year by cashing out my credit card rewards.

[Anonymous No.55791141]

>>55790506
that's what I'm trying to figure out. obviously economy spirals. massive lay off as no one is consooming. but this sounds like the point where you'd want to be in cash to take advantage but Bitcoin has never been in that type of environment so how would it perform? a year after 2008 gold hit ATH would that happen for BTC? and again for gold?

[Anonymous No.55791144]

>>55790789
Hahaha exactly lmao not my problem
*does a 360 and walks away*

[Anonymous No.55791175]

>>55790444
Two more weeks chuddie and you can finally afford a house.

[Anonymous No.55791245]

>>55791127
doesn't this conflict with the notorious 'most Americans can't handle a random $500 expense'. if Americans would go into debt from a $500 expense why would they be able to clear their maxed or near maxed cards?

[Anonymous No.55791259]

>>55790988
Now add in student loan payments and inflation coming back with a vengence.

[Anonymous No.55791319]

>>55790969
When you take out children from the equation it's closer to 10-15k per adult.

[Anonymous No.55791711]

>>55790444
EMBRACE COLLAPSE
>EMBRACE COLLAPSE
EMBRACE COLLAPSE
>EMBRACE COLLAPSE

[Anonymous No.55791755]

>>55790444
Sitting on $100k cash
DCA max into my 401k with Russell 3000 fund
Ready for anything
>good

[Anonymous No.55791775]

I doubt people who took student loans will bother to make payments

[Anonymous No.55791786]

>>55791775
Yeah, their employers will just have to withhold pay for them. How convenient.

[Anonymous No.55792032]

>>55791144
360 puts you in the same direction dumbass. This board really is a bunch of ESLs

[Anonymous No.55792099]

>>55791786
>employers will just have to withhold pay
what employers

[Anonymous No.55792109]

>>55790506
>>55791141
This is what the XRP crowd has been talking about for years, its called a liquidity crunch. It wont be mass bankruptcy(well there will be, but it wont be what causes damage, its a symptom) instead there is going to be mass defaults. As the defaults cascade, itll be poor consumers hit first, middle class, then upper class hit, businesses will fail at every level of this as their consumer base dries up and they start to default. Then once the issue finally hits banks, suddenly any financial device tied to those banks, think credit and debit cards will stop working even for customers in good standing. The people who thought they were doing good saving cash(in the bank lol) will lose their funds just like everyone else...and eventually literally none of our current payment rails will work.

[Anonymous No.55792161]

>>55792109
The reason things will stop working is that we currently run entirely on debt. When you swipe your card, debit or credit, doesnt matter...you are NOT transferring money to the store. Instead, (loose idea here, its not exactly this way technically, but it is in practice)the store is loaning you whatever you buy and the bank will pay the store on the backend on your behalf from your account. The payment is debt until its settled by the processor (which can take something like 3-7 days, it changes depending on the processor). Thats what we have to look forward to, the only thing that will be instantly settled will be cash (and even that is debt based in its issuance). When all this happens and people are not able to transact, according to the schizo xrp theory, ripple will save the day with their ODL product supplying a fresh giant pool of on demand liquidity for these companies. If you take a look, you will be able to see that every single major financial system has been integrating either XRPL directly, or a product that *can* use XRP (and therefore its ODL offering). They are preparing for the crunch in liquidity. Itll likely hit people hard enough for them to lose their assets and then things will switch over to "save" everyone.

[Anonymous No.55792207]

>>55790444
guy i follow is pretty reliable in catching trends (not bottoms/tops). his indicator shows heavy accumulation of USD and btc is also bullish (triple alignment of bullish short, mid and long term positions)

the usd is pretty beat up so i agree. weird that they'll both run at the same time if true

[Anonymous No.55792303]

>>55792032
holy newfag

[Anonymous No.55792427]

>>55792207
>Demand for USD spikes
That's bad for most assets desu senpai.

[Anonymous No.55792441]

>>55792427
yes i am aware. btc/usd inverse relationship. plus dxy spiked in every crisis/crash from 1999 to 2020.

so btc usd running together is really rare, which is why i find it weird.

but again there are exceptions in these exceptional times. the inverse relation between treasuries and stocks broke down as well this year/last year.

[Anonymous No.55792476]

>>55792441
Yeah, true, stay tuned on the next episode of clown world to find out!

[Anonymous No.55792608]

>>55790444
DCA into Bitcoin is never bad to invest into it. DCA if you can. It is not a bad idea. I have accumulate several of them over the years and I even use it for making payments through CryptMI.