155 sats \ 3 replies \ @Undisciplined 15 May \ on: Household debt in the USA reaches record level econ
Welcome to the financial death spiral.
The remedy for excessive borrowing is higher interest rates, to incentivize saving. However, when people can't afford to service their debt, they end up borrowing even more. Lowering rates will just make credit cheaper so people will also save less in that scenario.
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42 sats \ 1 reply \ @grayruby 15 May
Debt Jubilee here we come.
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81 sats \ 0 replies \ @Undisciplined 15 May
Whatever they do, I predict it will be good for Bitcoin.
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21 sats \ 0 replies \ @Satosora 16 May
This spiral is going to come quick and hard.
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