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Title: Consumer Credit Hits A Brick Wall With Credit Cards Maxed Out
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URL Source: https://www.zerohedge.com/markets/c ... ck-wall-credit-cards-maxed-out
Published: Jul 8, 2022
Author: Tyler Durden
Post Date: 2022-07-08 18:20:54 by Horse
Keywords: None
Views: 187
Comments: 4
The recession which unofficially started in Q1 and worsened in Q2, is about to get much worse in Q3 when the key support pillar of the US economy, consumer spending which accounts for 70% of GDP, goes into reverse now that credit cards have to be paid down. Poster Comment: SEE CHART
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#1. To: Horse (#0)
I have never understood this concept as consumers normally need to get money from somewhere else in order to consume, so consumption must be offset by production. And everything that is produced must also be consumed or it is wasted production and that's true in every economy. So for me, consumer spending in every economy in every country necessarily accounts for 100% of GDP in that country or economy.
100% minus Savings minus Taxes = Consumption. Early on in the development of a nation, Investment and Innovation are a bigger factor.
The Truth of 911 Shall Set You Free From The Lie
Bankster credit is bad for individual great reset viability imo I could be wrong, though Max it all and claw back an egg to move to a non-extradition domicile ? Capital Controls will come fast when they come.
Just imagine what will happen to all the dope deals that rely on cash payments? My ex-partner in Chicago was robbing people for drugs and money. One time, one of the guys with him said his name. Only the guy they robbed misunderstood and they were looking for someone else. I saw his Cousin at a Bears game. I asked if he had seen him. He told me, "Man, he wigged out and moved to Texas." If they had caught him, he would be six feet under right now. He wasn't robbing them for nickels and dimes. It was tens of thousands of dollars. ;) "When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
support pillar of the US economy, consumer spending which accounts for 70% of GDP
#2. To: Pinguinite (#1)
#3. To: Horse (#0)
(Edited)
#4. To: ApesForEvolution2 (#3)
(Edited)
Capital Controls will come fast when they come.
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