I am so grateful to my wife and her Draconian savings plans, resulting in my debt free retirement. But what does this news mean for the country?
This is what has been keeping the economy afloat in spite of the Feds actions. I suspect we are going to see a lot of repossessions of property in the near future.
A lot of individual bankruptcies.
How much of that credit card debt is for lifestyle carry vs. essential stuff like food and/or medical or even rent?