Interest payments on non-mortgage debt = mortgage debt
958 sats \ 9 comments \ @BitcoinIsTheFuture 17 Mar charts_and_numbers
For the first time in US history, interest payments on non-mortgage debt in the US are equivalent to interest on mortgage debt, at $575 billion.
Exactly 3 years ago, interest on non-mortgage debt was at $250 billion.
This marks a 130% increase in household interest expense on non-mortgage items over just 3 years.
Furthermore, 3 years ago interest on non-mortgage debt was HALF of interest on mortgage debt.
Americans are "fighting" inflation with high interest rate debt.
How is this sustainable?
Luckily we have Bitcoin as an escape valve, if you place your excess capital there and get it to cold storage with condensed UTXO’s!
https://m.stacker.news/21178
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20 sats \ 1 reply \ @halalmoney 17 Mar
Non-Bitcoin escape valves:
  • debt moratorium
  • debt jubilee
  • even more incursions to civil liberties under the pretext of an emergency; CBDCs, soft lockdowns (15 minute cities, allowed to drive every other day)
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0 sats \ 0 replies \ @BitcoinIsTheFuture OP 17 Mar
Yes great list. Hold on for the ride. It’s gonna be wild!
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15 sats \ 4 replies \ @TheWildHustle 17 Mar
Everyone I talk to is struggling. If things continue at this pace, Americans will lose their shit. Thank god I finished The Mandibles, seems like mobility is key….. that and securing ur stack.
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5 sats \ 3 replies \ @Bell_curve 17 Mar
Look at Argentina 🇦🇷 or the third world
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10 sats \ 1 reply \ @TheWildHustle 17 Mar
The American reaction to this lingering financial hardship will be unlike anything the world has ever seen.
The coddled Americans values, identity and beliefs will be snapped like a twig under fiats boots.
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10 sats \ 0 replies \ @Bell_curve 17 Mar
We live in a world where anything above 4 percent interest is a catastrophe
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10 sats \ 0 replies \ @BitcoinIsTheFuture OP 17 Mar
Great point. We need to start somewhere and remember anything above zero compounds!
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10 sats \ 1 reply \ @Coinsreporter 17 Mar
How is this sustainable?
This isn't and we definitely will be the lucky ones because we have Bitcoin as a saviour.
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0 sats \ 0 replies \ @BitcoinIsTheFuture OP 17 Mar
Yes, joining Bitcoin class of ATH 2021 I seemed a bit crazy to those I know, but my conviction is so strong now! All the pieces are coming together!
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