Credit Card Delinquency Rates Are At Highest Level Since 2012
What took place this week in the credit card and payment industries
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Some crazy part of me wonders what would happen if 50%-75%+ of people just straight up refused to pay.
And, not for like...one month. But 6-12 months. It would have to have a meaningful, negative impact to banks? Right?
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.
Debt strike!
Debt strike!
Debt strike!
im pretty sure their card would get canceled and then debt collections would start.