Crazy…what is wrong to live within your means.
"Total credit card debt hit a record high of $986B in Q4 last year, beating out the previous high of $927B in 2019.
Q4 '22 saw a $61B jump from the previous quarter. It was the biggest increase from a prior quarter going back to 1999.”
very sad where this is going. some of this is high time preference spending. others are families trying to get by.
in either case, bitcoin fixes this and i’m happy that debt-ridden families of little means will have their debts evaporate with more bitcoinization.
I feel like for some it’s not a “living within your means” kind of thing, but rather a poorly advised lifeline for when they show up to buy just the necessary Groceries on a budget of $100 and the tab comes to 150 or 160 because of inflation.
Don’t forget, despite what the Fed and White House are saying, we are still dealing with inflation.
But yes, many are still living beyond their means waiting for a government windfall.
