88
Americans rack up $19 billion in credit card debt in one month
(www.newsweek.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 30 Jan 2024
88 points (94.9% liked)
A Boring Dystopia
9748 readers
263 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
Why?
My guess would be Gen X and older millennials. Old enough to have seen all the things their parents could afford so they want them for themselves. Seems like the younger crowd is less focused on gathering possessions. I base this on my observations as an older millennial, and have absolutely no scientific data to back it up.
Why are you presuming the credit debt is for superfluous purchases? Prices have shot up across the board, student loan payments resumed, bills and rent are always due, groceries need bought.
If they were using credit to buy meaningless stuff, why the spike now?
I bet it's being spent on groceries a lot more percentage wise than before. as a gen Z I don't place worth or care about fake social status from possessions but I still want stuff, problem being I can't afford it anyways
I own nothing and bad credit (medical). Best of both worlds!
Eta: And am older Gen x