So, a US consumer fills up the tank of his little Honda and it costs just over a hundred bucks. He puts it on his credit card because the BNPL's he defaulted on, now won't lend him anymore money.
His credit card has an effective interest rate of 28% so, in reality, he will end up paying over $200 for a tank of gas as he owes so much on that credit card.
That isn't sustainable.
This bloke can see what fanboys and those heavily invested in shares, won't dare look at:
https://www.*.in/stock-market/news/big-short-investor-michael-burry-warns-the-us-economy-is-on-borrowed-time-and-consumers-will-blow-through-their-savings-in-a-matter-of-months/articleshow/92040671.cms
Apple BNPL launched, page-35
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