Americans’ credit card debt hits a record $1 trillion - eviltoast

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • demlet@lemmy.world
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    1 year ago

    If I’ve learned anything from Musk and Zuckerberg, it’s that the super rich really aren’t all that competent. They know how to operate within the system as it is and leverage their existing advantage. I’m pretty sceptical that they can actually save themselves either. They’ll need other people to do that for them, but the problem they face is, why wouldn’t those people just take charge themselves? Once the system they operate in is gone, what do the wealthy really have to offer? No actual skills for the most part. It’s all socially fabricated smoke and mirrors.