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It’s about to get real ugly…

It seems that the CC companies are holding a huge debt on the books no way that they have that cash to just give out and what percent do they get back? Saw a video yesterday with Caleb Hammer a couple had 600k in debt and put almost everything on cards even though they were making 170k between the two of them. 2 car payments that were over 1000 a month. I think we as America have a huge financial illiteracy problem, it's amazing how little some know about how everything works. No Budget just spend without care.
 
And what flies under the radar is the Fed pumping billions every month into the banking system to allow them to pass their stress tests. I wouldn't be surprised when Trump takes office, they pull the plug on the economy and let it crash on his watch.
Yup. Get ready for “It’s all Trump’s fault”.
 
It seems that the CC companies are holding a huge debt on the books no way that they have that cash to just give out and what percent do they get back? Saw a video yesterday with Caleb Hammer a couple had 600k in debt and put almost everything on cards even though they were making 170k between the two of them. 2 car payments that were over 1000 a month. I think we as America have a huge financial illiteracy problem, it's amazing how little some know about how everything works. No Budget just spend without care.
Credit Cards / Debt = Middle Class Entitlements
 
I have no mercy for credit card companies. Let them reap the rewards of what they have created. They extend credit to anyone with a pulse. They allow constantly outrageous balances to continue and still increase limits. It’s ultimately the consumers fault. But they prey on the financially illiterate (and this doesn’t mean uneducated).
Let the hem rot.
CC should be for short term purchases/emergencies that are paid off in a month or so. Not a form of long term loan.
 
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