The US Has Run Out Of Money

People in the United States have run out of money as the economy is plunging into a de-facto recession.

Spending is falling and credit card debt and delinquencies are through the roof while the savings rate is at a historic low.

Has the Fed left it too late?

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[loveuanta]

Liar, I still have 50$ left for this month in my bank account.
Stop spreading fear 🤨

[KevinInPhoenix]

Everyone has had to cut back. I now light my cigars with $50 bills instead of $100 bills.

[yaboi]

I’ve been waiting for this, hard reset. I’m not paying 15 bucks for a combo meal from a fast food joint. I’m not paying 5k for a garbage 1999 honda civic with 250, 000 miles on it. I’m not paying half a million dollars for a glorified 1 bedroom home that has no roof “fixer upper”. Let it fall.

[christopherdavies]

You don't run out of money when you've got a printing press and guns.

[kenville]

Same happening in the UK. Part of the blame lays with greedy companies pumping up their prices thinking people will keep paying. People are cutting back on discretionary items and even when they can afford it are now refusing to buy it. Companies have got too greedy.

[anniealexander]

What's worse is those of us who live within our means, have to deal with inflation cause by people who are using debt.

Sunday, I had a friend call me complaining to me about all his debt while drinking beer at a bar. I was at home drinking tap water.

When credit freezes and all the idiots can't spend anymore, we will see deflation. Meanwhile, everyone will be boohoo crying for the idiots who created inflation.

[chrisjonesfilm]

I'm just stoked that the shareholders and business owners keep generating record profits. America is not for the everyday people, it's for the profit makers. That's why our nation's slogan is "By the People, for the Profits." Doesn't matter what happens to us peons, as long as the profits and stocks that most of us don't hold continue to go up in value.

- This comment brought to you by the national society of sarcasm

[highmetal]

I ran out of money in 2020, I timed the recession way too early:{

[sammc]

"No one could have seen it coming! Impossible to predict!"

Sasha's catchphrase

[wilhelminatobias]

The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies.

[chudchadanstud]

Don't worry CEO are replacing everyone with AI until there's no one left to buy things

[Zolipants]

Nobody on this fuckin earth can convince me that FUCKING UP people's life is not intentional.

[tridau]

Please print some ‘Nobody could have seen it coming’ shirts 😂

[AMZilla]

I'm actually shocked at the fact that people end up with credit card debt. I mean, if you don't have the money to buy something just don't buy it, or budget yourself so that you don't end up in debt. I think the problem is that in the US people buy things they can't afford.

[michael]

I Hit $73k today on my trade. Thank you for all the knowledge and nuggets you had thrown my way over the last months.
Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.

[geertterharmsel]

a couple of weeks ago you told us the economy was fine and all the doom en gloom was not real.

[tundeuk]

We are living in a slow motion, controlled explosion.

[renaissanceman]

the real problem with Credit Card debt you forgot to mention was the fact that many have rather low APRs... but miss one payment and they jack that APR often over 25%, which is then calculated into the next payment plus the late fee,

[methos]

The moment we took on debt, we ran out of money. Basic economics.

[cellshaded]

Genuine dumb question. If inflation went up about 20% total in the past 4 years, doesn't that mean we need to induce deflation now so we can bring the prices back down to something resembling what they used to be?