XJO - Bear Posts only (Factors which might cause the markets to fall), page-15739

"people max out their cards for points and interest free period, with 5% US rates"

They also max out their credit cards when they have no money left to buy the essentials.

The ave interest rate on credit cards in the US is 24.66%. (See here.)

It has to be that high to compensate the banks for all the bad credit that never gets paid off. (See here.)

Things are bad and getting worse. U6 unemployment is now at 7.5% and climbing and we all now what happens next. . .


https://fred.stlouisfed.org/series/U6RATE