Student loans, credit cards. They fuck you even if you’re homeless. The debt accumulates. Just waiting for you to get back on your feet.
Make no mistake about it. The wealth extraction class has refined its methods to the maximum. They’re stealing everything that isn’t nailed down before they lock down in their bunkers to survive global warming.
Is it really a “bunker” if it’s the entire Hawaiian island of Lanai?
I just want to make sure we understand the scale of what’s going on here. A “bunker” is small potatoes; these fucks have already extracted so much wealth they could field private armies if they want.
Paraphrasing a common saying… If 100 people can’t pay the bank back, the 100 people have a problem; if 100 million people can’t pay the bank back, the bank has a problem.
Except that it’s currently at 3.5%. The last time it was that high was 2012… and every quarter since at least the 2000s. We had record lows of delinquency during the pandemic as people paid cards down heavily with their government stimulus. While that was a wealth transfer, this isn’t any kind of an indicator more than it’s one from Forbes trying to spook average Americans so they can buy up more property when it collapses again. Link
Honestly, nobody… defaulting is a pretty clear sign that us plebs are being squeezed and if creditors can’t collect banks start feeling the pressure too.
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