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Thread: Debt vs Savings

  1. #1
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    Default Debt vs Savings

    Just saw this on Twitter, holy fuck.

    https://twitter.com/grdecter/status/...yI3WfjqlYk80ig

    This is not oil, a meme stock or even a shitcoin. It’s credit card debt in America.

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  3. #3
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    This isn't news...

    The average Canadian spends $1.80 for every dollar they earn.
    It's only going to get worse as inflation continues to ramp.

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    I'm trying to think of a term that allows borrowers and lenders to agree on a reasonable cost of capital such that this phenomenon will equalize in an efficient manner.

    What is that term again? I forget.

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    Subsidy?

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    Builder grade graph.

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    Not even remotely surprised they way people seem to spend.

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    Iirc Canada is even worse than the USA for debt/income.

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    Quote Originally Posted by vengie View Post
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    This isn't news...

    The average Canadian spends $1.80 for every dollar they earn.
    It's only going to get worse as inflation continues to ramp.
    Inflation is a racist construct of the patriarchy, Comrade.
    What you're seeing is corporate greed.

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    Let us all rejoice and be thankful many of us are not like this.

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    Quote Originally Posted by Disoblige View Post
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    Let us all rejoice and be thankful many of us are not like this.
    Amen.
    I bought 2 pairs of kids shoes at Sport Chek and they asked if I wanted to stretch those payments over the next year because it was over $100 or something.
    I sure am grateful that I'm not stuck in that boat.

  12. #12
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    Quote Originally Posted by Disoblige View Post
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    Let us all rejoice and be thankful many of us are not like this.
    The stats would say otherwise.

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    I blame high real estate transaction costs.

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    I blame Canadians being complete and utter morons.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    I blame all the Canadians who racked up $tensofthousands in student loans to graduate with a sociology or liberal arts degree only to find they aren't employable aside from being barista at Starbucks. Ironically these are the same people voting for Trudeau who is making their lives worse.

    Make better choices Canada.

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    Quote Originally Posted by ExtraSlow View Post
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    I blame high real estate transaction costs.
    How else can they afford all their fancy cars, big homes and first class vacations.

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    This would lean me to pick up some V or MC but I think with so many people with high debt, when the day comes it's going to put the lenders overboard.

    Guess I figured out how there's so many people at Disneyland daily.

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    I don’t think Visa or Mastercard gets much of a taste of income from balances.

    That would be the banks offering the card.

    Visa makes money on transaction fees. If anything sky high balances would lead to fewer visa transactions when cardholders can’t use their maxed out cards.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  19. #19
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    V and MC are not even the lenders, it's the perfect business.

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    I have and will continue to be invested in V and MC for for the long term

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