- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.
Paywall removed: https://archive.is/9SYHz
Removed by mod
https://shop.affirm.com/gift-cards/dominos-standard-egift/
Sort of yes sort of no.
Rockefeller over here… I just finance government cheese on fire sale.
Maybe the government should actually try protecting people who are obviously too stupid to avoid these predatory practices. Maybe we should invest in an educated country. Maybe this is all working out just fine for businesses tied to politicians and therefore nothing more to worry about.
Woah slow down there with that spicy take friend.
had a rough day, came in hot
Yeah and spend money on education of all things /s
Phantom debt is debt that has not been reported to credit agencies. You know who hates not having that data on you? Credit agencies.
Business cards are useful for this. I have enough revolving credit limits now that it doesn’t matter, but at one point I preferred to churn business cards, since a month’s worth of expenses could ding my credit.
Housing market collapse?
Corporate ownership means the housing market will never collapse
For sure, but there were individuals buying homes too. Also, no savings, no more Airbnb and maybe can’t afford rent. Corporations will lose money, but they can sit on properties indefinitely.
The eventual ending of a scenario can either be government stepping in to take back properties, or one of two darker outcomes, the people take back property by force, or the corporations defend property by force. Imo all outcomes are grim
Surprise twist, Yellowstone suddenly blows up before any of these scenarios play out. The few remaining bacteria take back the properties. With no more scentient life present, “grimness” ceases to be a concept and there is no reflection on the present situation, the past, or potential futures. The outcome simply is.
We can only hope for such an outcome
It will if we all die and don’t need houses
It will be a some sort market collapse. Wish I knew which industries to bet against.
Wells Fargo estimates that there’s about 46 billion dollars in phantom debt, and that’s just from "Buy Now, Pay Later.” And that’s just in the US alone.