by Chris Black
These people tell you they’re creating a utopia of mutilated kids, endless war, and blacks going buckwild.
Meanwhile in the real world:
RT:
Credit card balances in the US rose by $45 billion in the second quarter, surpassing $1 trillion for the first time ever, the New York Federal Reserve Bank reported on Tuesday.
Delinquency rates have now returned to pre-Covid levels, the bank’s economists said, noting that the two most recent quarters “appear to show some stabilization.”
Other balances, which include retail credit cards and other consumer loans, as well as auto loans increased by $15 billion and $20 billion, respectively.
The quarterly report shows that student loan balances fell by $35 billion to reach $1.57 trillion, while mortgage balances were largely unchanged at $12.01 trillion.
Total household debt jumped by $16 billion to $17.06 trillion in the second quarter of 2023.
Does this feel like a utopia to you?
Is this a sign of good national health?
Do you understand something very simple: that this debt increases the costs of everything?
Did you not learn that?
That when debt is easy, it is like a balloon in society’s stomach, inflating the prices of all assets?
Is this what you wanted from your utopia?