"Buy Now Pay Later apps are turning into the most dangerous kind of credit. LendingTree found 40% of users missed a payment last year, and one in four now uses it for groceries."
https://www.foxbusiness.com/media/buy-now-pay-later-services-dangerous-trap-young-americans-financial-expert-warns
$1.6 trillion for auto loan debt.
Take the bus.
So are we STILL ‘recovering’ from CovidBS-19? Did Brandon really do THIS much damage to our economy? Are we just starting to feel the repercussions of unbridled Government Spending over the past 50+ years?
I’m going to say YES to all of the above.
Curious as to how our FReepers are handling household financial aspects these days...
Brandon’s 4 years as president really helped wreck this nation in so many ways. Inflation. Open borders giving away $$$$, cars, housing to illegals. Illegals taking jobs.
God help us.
I retired four years ago at 67. My retirement plan was not to have a lot of money saved up. Rather, it was to move to a low cost of living part of the country, own my own home and have zero debt. That is exactly where I find myself now. But with a plus. I ended up with 32 acres, 25 of it wooded and the rest three beautiful lawns. And the annual property taxes are less than $250. It means my cost of living is less than half our SS checks.
And we pay zero income tax.
And those 25 acres of woods have tens of thousands of dollars of timber on them, and it’s always growing.
Meanwhile consumer spending is going up, how can it be?!
People who don’t understand simple mathematics go broke while others prosper, all under the same system. Our miseducation system has helped ruin a lot of lives, as has advertising. I got to see the details of a lot of people’s financial lives in my work. Credit cards and overspending on autos are the two most dangerous things to wealth building for the middle class, with “toys” right behind those.
Some scary statistics in this report!
Lev_25:54 If any Israelites have not been bought back by the time the Year of Jubilee arrives, they and their children must be set free at that time.
In fact it is a point of freedom for many.
I was in Mongolia after the demise of USSR. They were excited about the future, it was like the new frontier, all the old rules were gone and they had freedom. They were rediscovering the past which in their case was Genghis Kahn and Buddhism. What will we rediscover of our past.
It will be a bumpy exciting ride.......................
Those phone apps...”You can get up to $500 as soon as the same business day!”...electronic forms of title loans, payday loans and you don’t even have to leave your sofa...until it’s repossessed for non-payment.
Welcome to the consequences of Usury.
The major banks of the world have purchased our legislators and as a consequence usury has become the normal day to day business model of the world.
Interest rates on credit cards can be as high as 34%.
Home equity loan rates are running from 7 to 9 percent while inflation runs at about 3% and interest on a saving account runs around 1%. And fees on managing your account are likely to consume your interest and more.
Banks get free use of our money and we pay them for giving us access to it.
Usury laws are a thing of the past and we pay the price for that.
Sorry, this guy sounds is a flipping stooge. reminds of the other negative nelly ex-con that another freeper constantly posts as an authority, despite none of his predictions being accurate
My beater died. I don’t notice any downward pressure on prices nor do I see any downward pressure on interest. Plus the dealers add two grand if you don’t finance thru them. Plus no cash discount.
Scam post. Comparing anything in 2024 to the Covid era is bogus. Repossessions were artificially low in 2022 due to the government's gifting everyone due to covid.
I saw that approximately 25% of groceries are purchased with buy-now-pay-later. That’s a serious red flag. Some other items of concern:
90-day credit card apdelinquencies has doubled.
About 2.4 million cars up for repo even though the actual repo rate is less than 30% (it was traditionally somewhere just North of 40% )with one of the drivers being that some lenders claiming they won’t sell at auction anyway. So they hope they can get some money out of them from the original buyer.
At end of September, there were 85,000 new vehicles on dealer lots from the 2024 model year.
I also saw a report that the majority of GDP growth (above 90%) came from capex related to AI. Fortune reported that without data centers, GDP growth in the 1st half of 2025 would have only amounted to 0.1% (https://fortune.com/2025/10/07/data-centers-gdp-growth-zero-first-half-2025-jason-furman-harvard-economist/).