Americans Aren’t Paying Their Credit Card Debt. What Could Go Wrong?
As we’ve said, consumer debt is gripping the suburbs. This does not bode well.
While those who put their hands on this money first, such as Wall Street junkies, do make a profit, everyone else loses in the long run as the government’s policy of expanding the money supply and artificially inflating the prices of resources, as a result, devalues the currency. If living life wasn’t as expensive as it is now thanks to the country’s misguided monetary policies, then perhaps Americans wouldn’t rely on credit cards as much.