“People have lots of money. I deliver their packages. There’s lots of money out there. Don’t let anyone tell you differently.”
What you see is everyone running up their credit to get as much as they can before they claim bankruptcy. It is an age old last ditch practice that ends up shorting the taxpayers in the end.
BINGO! You nailed it! Credit card debt is out of control and getting worse. 20% and more interest rates on credit cards will eventually bankrupt the nation.