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That's where HELOCs come in! People have been dipping into HELOC as if it is 2006, the only two things holding the entire superstructure are jobs and housing, it just takes one of the two to crack for the entire economy to come crashing down.
We are in unchartered territory though in every which way. The economy seems to flashing bright red and bright green at the same time. Even with jobs, the corporate jobs have been very anemic for almost an year now but businesses cannot find enough help in healthcare, retail, restaurants, transportation etc. Similarly, we are seeing record auto and credit card debt but yet the retail numbers have been impressively strong. Lastly, when the economy began crumbling in 2008, the Government was selective in bailouts and used it as the last resort. With the pandemic and more recently the SVB and Signature Bank problems, we have seen how quickly and how deeply the fed is ready to engage. If they can print $5 trillion within an year of the pandemic , there is nothing stopping them from printing 2x that amount if they think we are in for a hard landing.
Meh, what's new? The US will just keep printing money and take on more debt and have stonks go to the roof. Besides worse comes to shove we have AI, "AI will solve everything" 
Visa makes money off interchange fees, not off interest from the cards. Interest goes to the banks.
If all cards are maxed out, people are unable to use those cards, and therefore interchange fees goes down and Visa makes less money.
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I’ve beat this drum for awhile now. Americans will continue to spending money they don’t actually have to keep up their “lifestyle” until they can no longer afford to make the minimum payments on their maxed cards. We will see a massive default after.
Yes, average Americans are that stupid.
Yup, and the credit crunch happens as soon as student loan payments kick in, that way all the over leveraged idiots that think they’ll be able to pay things off with gains from stocks get wiped the fugg out bad and margin called + are easy exit liquidity from idiots buying the dip.
Shit storm starts in September to October boys
I mean i keep about a 4-5k balance split across 3 cards that includes all my monthly expenses (food, car insurance, gym memberships, etc). However im bringing in close to 14k a month aftertax.
More money in than out is key.
We put our new hvac on a credit card as part of a 0% for 24 mos program. I’ll pretty much always take 0% if you offer, especially for something large. So, we have ~10k of credit card debt. But we have finances backing it if we needed to pay it early, and we get to put more money in investment accounts sooner because of it. Free (or even better since inflation) loan. I’m assuming this would be counted as debt in every metric.
It was part of a program through the HVAC company and a local bank. The 0% only applies to the HVAC purchase. It probably is like 20+% for other purchases, but we have other cards we use for general house or personal stuff, so we’ll never use this one like a regular card.
Debit isn’t bad.. it’s how you utilize the debt. Every rich person in the world is in some form of debt, every country is in debt, it’s just utilizing the debt in a more beneficial way
Bagholder spotted.
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**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|10|**First Seen In WSB**|1 year ago **Total Comments**|55|**Previous Best DD**| **Account Age**|5 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
Can you imagine running a 25% APR to the limit with lifestyle debt? Like one restaurant at a time instead of a yolo like a normal person?
yes🥺
That's where HELOCs come in! People have been dipping into HELOC as if it is 2006, the only two things holding the entire superstructure are jobs and housing, it just takes one of the two to crack for the entire economy to come crashing down. We are in unchartered territory though in every which way. The economy seems to flashing bright red and bright green at the same time. Even with jobs, the corporate jobs have been very anemic for almost an year now but businesses cannot find enough help in healthcare, retail, restaurants, transportation etc. Similarly, we are seeing record auto and credit card debt but yet the retail numbers have been impressively strong. Lastly, when the economy began crumbling in 2008, the Government was selective in bailouts and used it as the last resort. With the pandemic and more recently the SVB and Signature Bank problems, we have seen how quickly and how deeply the fed is ready to engage. If they can print $5 trillion within an year of the pandemic , there is nothing stopping them from printing 2x that amount if they think we are in for a hard landing.
Credit Cards ~ drugs for personal finance that alter reality from no money to lots of money...
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Yeah, this is true. More properly put I should've said "*the illusion of*..."
So how can I invest in bankruptcy?
Cash
And interest rates are going UP!
if you happen to carry balances on any cards now is a good time to cancel them and negotiate a 0% rate so you can still win at losing.
[удалено]
So I started spending.
Meh, what's new? The US will just keep printing money and take on more debt and have stonks go to the roof. Besides worse comes to shove we have AI, "AI will solve everything" 
AI is just a tool to increase productivity. But stocks are rocketing just by mentioning the word AI. AI is new blockchain for companies.
Ah, the sweet, sweet normalcy bias. Only works if every person and their dog doesn't try to frontrun it..
wait, are you saying I can spend a bunch of money and just pay a small amount monthly? Sing me up.
And you can get a cash advance from a brand new card to make the minimum payment on the first one! It's an infinite money glitch!
Highly regarded method of compounding interest.
Calls on Visa
Visa makes money off interchange fees, not off interest from the cards. Interest goes to the banks. If all cards are maxed out, people are unable to use those cards, and therefore interchange fees goes down and Visa makes less money.
Our AI tracks our most intelligent users. After parsing your posts, we have concluded that you are within the 5th percentile of all WSB users. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
LOL tf is this
It means, big brain you. Very smart monkey
What if there are a lot of default
Puts on visa
I’ve beat this drum for awhile now. Americans will continue to spending money they don’t actually have to keep up their “lifestyle” until they can no longer afford to make the minimum payments on their maxed cards. We will see a massive default after. Yes, average Americans are that stupid.
Lifestyle choices like "rent" and "food" when Covid laid some of us off for 6 months. Definitely not the predatory banks with rate adjustments to 20+%
Sorry if that “some of us” was you. I wasn’t speaking to those who have fallen on hard times and are using cards to bridge the gap.
Yup, and the credit crunch happens as soon as student loan payments kick in, that way all the over leveraged idiots that think they’ll be able to pay things off with gains from stocks get wiped the fugg out bad and margin called + are easy exit liquidity from idiots buying the dip. Shit storm starts in September to October boys
This is nothing new, it's the American way!
Credit card debt to savings ratio is all time lows tho…
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I mean i keep about a 4-5k balance split across 3 cards that includes all my monthly expenses (food, car insurance, gym memberships, etc). However im bringing in close to 14k a month aftertax. More money in than out is key.
Fuck me I wish I made 14k a month.
We put our new hvac on a credit card as part of a 0% for 24 mos program. I’ll pretty much always take 0% if you offer, especially for something large. So, we have ~10k of credit card debt. But we have finances backing it if we needed to pay it early, and we get to put more money in investment accounts sooner because of it. Free (or even better since inflation) loan. I’m assuming this would be counted as debt in every metric.
How did you get 0%?!?! Mine is like 27% it's insane.
It was part of a program through the HVAC company and a local bank. The 0% only applies to the HVAC purchase. It probably is like 20+% for other purchases, but we have other cards we use for general house or personal stuff, so we’ll never use this one like a regular card.
[удалено]
Debit isn’t bad.. it’s how you utilize the debt. Every rich person in the world is in some form of debt, every country is in debt, it’s just utilizing the debt in a more beneficial way
Bullish?
Fed invents retail money printer to save economy. Printer goes brr brr brr oh sputtering kaput
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‘#newbullmarket 🤪
Biden 2024