People who cannot afford to survive without this credit and need it to fill the wage expense gap for basic living needs.
This is why the unemployment rate is a poor metric. It doesn’t matter much if you have a job if its wages are insufficient for one to meet their basic needs on.
Who is buying things with near-30% APR loan?
People who cannot afford to survive without this credit and need it to fill the wage expense gap for basic living needs.
This is why the unemployment rate is a poor metric. It doesn’t matter much if you have a job if its wages are insufficient for one to meet their basic needs on.
https://www.marketplace.org/story/2026/08/11/credit-card-del...
https://news.ycombinator.com/item?id=49294240 (citations)
https://news.ycombinator.com/item?id=49027462 (citations)
Not adjusted for inflation, so useless. At least do % of gdp which is also flawed but better than this.
...I'm not saying this is good, but doesn't the existence of inflation mean we'll always keep breaking this record?
The American consumer is an enigma