Posted on 05/21/2024 7:12:26 AM PDT by fwdude
Around here there are so many better choices than the traditional fast food places. There is a place operating out of former McDonalds just down the street. You can order online then drive down and pick it up ten minutes later. It is made from scratch food. Healthy options too. Fruit smoothies and food that is actually good for you. Plus it is not that much more expensive than fast food places.
So, the McDs shut down because they could not make money there. This place is jammed and very successful.
“In the last month both Discover Card and Capital One reported that their default rate jumped from 3% or less to 5.7-5.9% respectively”
CC companies report delinquency and charge-off rates.
I am not sure the proper term.
This is the % of card holders that can not pay their bill. The company is cancelling their card and turning the unsecured debt over to collection agencies.
“If we have a recession places like Calif. which is already facing a 50 billion dollar deficit will really be in for it.”
Newsome has a revised budget that eliminates the deficit.
“The company is cancelling their card and turning the unsecured debt over to collection agencies.”
That is the charge-off rate. It was over 10% in 2009.
Annoying, isn’t it?
I have no idea one way or the other. But I notice even mentioning that he may not will result in a bunch of negative responses. I go with the he’s going to win. We will see.
As far as the rest of the reply, you are spot on. And history already expects the same.
The spring 2023 recession?
Every quarter of growth means the next recession is closer.
It’s only 15 months late! Hang in there folks, it’s coming any day now.
I would advise young people NOT to get trained as chefs. The combination of inflation and inability to hire staff will kill the industry.
He is an idiot
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.