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Rising Credit Card Balances and Economic Discontent: Unpacking the Reality of Worsening Inequality
Citizen Watch Report ^

Posted on 12/20/2023 6:41:41 AM PST by davikkm

In the intricate web of economic indicators, the perils of relying on averages come to light, exposing the stark reality of worsening inequality. Beyond the glossy surface of seemingly prosperous financial landscapes, a deeper dive into individual income data reveals a challenging narrative for the bottom 80 percent.

Bank of America’s assertion that credit card delinquencies are on the rise is a somber note in the symphony of economic statistics. While, on average, households may boast flush liquid assets, the truth lies in the nuanced story of individual struggles within the lower income brackets. This narrative is intimately tied to the overarching issue of wealth inequality.

(Excerpt) Read more at citizenwatchreport.com ...


TOPICS: Business/Economy
KEYWORDS: credit; creditcard; debt; economy; inequality

1 posted on 12/20/2023 6:41:41 AM PST by davikkm
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To: davikkm

They may be broke, poor and destitute now, but at least there are no more mean tweets from the orange bad man coming from the White House.


2 posted on 12/20/2023 6:45:27 AM PST by eyeamok
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To: davikkm

How soon before we see these debtors demanding “cancel all credit card debt!”

It worked for the college debt.


3 posted on 12/20/2023 6:47:37 AM PST by Bon of Babble (You Say You Want a Revolution?)
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To: davikkm

I’m betting Joe Pedeaux will be persuaded by his base to forgive all of their credit card balances. What Jo Jo and his freak show would call, “cleaning the slate for U.S. residents.


4 posted on 12/20/2023 6:48:44 AM PST by FlingWingFlyer (Get the illegal alien refugees out of our government.)
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To: davikkm

I have a hunch that when a person can’t afford the fees a bank charges for low balances they turn to alternatives which probably include higher interest credit cards.


5 posted on 12/20/2023 6:59:27 AM PST by lastchance (Cognovit Dominus qui sunt eius.)
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To: davikkm

They sat in the classroom saying that school was a waste of time and they didn’t need it. They didn’t learn how to read or do math. They spent their allowance on drugs and video games. They drank on weeknights. They voted for democrats. Now they are unequal.


6 posted on 12/20/2023 7:12:52 AM PST by webheart
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To: davikkm

Biden’s in luck - the bimbos and pretentious ‘men’ of the New York Times and Washington Post will put a lid on these types of stories because they’re commie propagandists... and stupid butt boys for the democrat party.


7 posted on 12/20/2023 7:20:08 AM PST by GOPJ (Surgery doesn't make a man a woman anymore than wearing a Gorilla costume turns a man into an ape.)
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To: Bon of Babble

Many of the people in credit card debt are working class Americans so Biden and this thugs, goons and commies will give them the finger.

‘Help’ is only for pet grievance groups and white liberal ‘elites’... (”elites” like Hunter and other assorted democrat filth)


8 posted on 12/20/2023 7:23:52 AM PST by GOPJ (Surgery doesn't make a man a woman anymore than wearing a Gorilla costume turns a man into an ape.)
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To: davikkm

The wife and I were out Christmas shopping Monday and stopped by a favorite (expensive) BBQ restaurant around 3:30 for an early supper. There are a few people at the bar, but we were the only ones at the tables except for a family that arrived maybe 20 minutes later. We figured it would be pretty empty at that time. Previous visits at later times...the restaurant was generally packed. Thinking about the “packed” thing, I asked my wife “Where are people getting the money to eat at places like this? Wages aren’t keeping up with inflation. Folks living paycheck to paycheck. 60-70% of people out there couldn’t handle a $1000 emergency.” People are living in a fantasy world.


9 posted on 12/20/2023 7:29:05 AM PST by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
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To: GOPJ

Be mindful of paying your credit card bill earlier than you normally would. I know of two people who had their payment credited to their cards late by 3 weeks so were charged late fees and interest. One person’s might be a fluke but not two with the exact same problem. Funny how all their other bills were credited within a timely manner. Are the credit card companies that hard up for money they have to play games or is someone higher up instructing them to create these charts? Makes you wonder.


10 posted on 12/20/2023 8:30:48 AM PST by bgill
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To: Bon of Babble

Let someone else pay for their college tuition. Let someone else pay for their bankruptcy. Let someone else pay for their shoplifting. Yeah, let someone else pay their credit card bills.

You know those cards will be used like Wilma and Betty, “Chaaaaarge it!” over the holidays.


11 posted on 12/20/2023 8:33:51 AM PST by bgill
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To: bgill

They figure the Democrats will just forgive the debts, just like the student loan debts. So live it up!

Folks like us, who have no debt, are the suckers, we’ll get stuck with the bill to rescue the deadbeats.


12 posted on 12/20/2023 8:36:02 AM PST by dfwgator (Endut! Hoch Hech!)
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To: bgill

Good points.


13 posted on 12/20/2023 8:56:48 AM PST by GOPJ (Surgery doesn't make a man a woman anymore than wearing a Gorilla costume turns a man into an ape.)
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To: bgill

I “Chaaaaarge it!” then pay the bill each month.

I’m not much of a spender, anyway.


14 posted on 12/20/2023 11:57:52 AM PST by citizen (Put all LBQTwhatever programming on a new subscription service: PERV-TThose look good)
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