Stocks & Bond Yields Crater As The ‘American Consumer Is Strong’ Narrative Implodes
Especially with rising interest rates.
— Ronald Reagan, 28 October 1980
I’m trying to do the opposite.
Pay the darn thing off.
The American people are fast approaching a come to Jesus meeting...
Ok seeing as the 40 billion going over to Ukraine (LOL) is in the works kick 20 of it to the CC companies and consider it another stimulus! As Hillary once said “at this point what difference does it make?” The God forsaken thieves in Washington and entrenched in the executive branch agencies are doing the devils work and the shine will fade. I have no room in my heart for those that subvert America for their own gain, do or say what you will there is no better place to live than our lower 48. Thank you lord God for your blessings and protection. Please God carry this nation as you had carried me for so many years until my surrender...Thank you Jesus.
About the same time food prices will really hit and who knows how high fuel prices will be by then.
Just try to wrap your head around how much utter catastrophe started almost exactly on January 20, 2021. Frankly, I cannot think of anything that hasn’t turned to complete chaos and destruction. It’s actually difficult to fathom. I mean everything has gone down the flusher.
This is sorta how I envisioned the way to fight in the on coming Civil War. Get as many Credit Cards as possible and buy long term necessities with them At the same time using cash to to buy gold. Then stop making your payments. Then watch the Woke system scream.
While credit card companies are billion dollar concerns, they is no way for them to cover cardholders debt, so they must issue bonds to raise money to do so.
And this is their big vulnerability. If investors do not buy up their bond issue, the credit card companies are in trouble. A single issue failure is not critical, and has happened several times before, but if three issues in a row fail, the credit card company is in danger of failing.
After the first or second issue failure, the credit card company will *cancel* cards that are unprofitable to them.
These are not just unused cards, but cards that are paid off every month. And cancellation are not individual, but are done in blocks of cards. And the companies do not share what cardholders are in which blocks.
So if there is an economic downturn strong enough to cause the credit card companies bond issues to fail, you might be unable to purchase on credit anymore, with little or no warning.
Such a downturn might include a banking collapse. So then what would you do?
I put everything on my credit card from my car insurance, cell phone, Xfinity bill, grocery store; even a $.59 soda at Costco.
I also pay it off every month; not just the statement balance, but the entire balance.
I’ll get $100 in cash once in a while, and it will last me at least 3 months.
Why CAN’T I make my house payment with my charge card?
So the little guy doesn’t matter to Wall Street until he does.
Reap what you sow.