I guess I see things a little different then you. The damage has been done and people are correcting it now. There is no chance of more debt --credit card or any other kind. People are paying down debt (where most of the stimulus went). Saving will go up and debt down during this correction. Yes bankruptcy is getting rid of debt.
I look at this correction as a positive.
Using credit cards does not mean more debt. I buy everything with credit cards and have NO debt. Besides I get a large check from my credit card each year.
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I look at this correction as a positive.
Using credit cards does not mean more debt. I buy everything with credit cards and have NO debt. Besides I get a large check from my credit card each year.
You assume everyone is stupid---not true.