The rate at which US working class people are racking up debt is astounding right now. Post-COVID in the face of corporate profiteering price increases has left us unable to pay the bills, so we start borrowing to maintain a way of life (or even just to live at all). Phase I was draining what savings were there, Phase II is now piling up debt while the 1% do stock buybacks. Phase III? Not sure, but it isn’t likely to be sunshine and lollipops.
The rate at which US working class people are racking up debt is astounding right now. Post-COVID in the face of corporate profiteering price increases has left us unable to pay the bills, so we start borrowing to maintain a way of life (or even just to live at all). Phase I was draining what savings were there, Phase II is now piling up debt while the 1% do stock buybacks. Phase III? Not sure, but it isn’t likely to be sunshine and lollipops.