You can’t destroy demand when Americans are completely comfortable with and addicted to credit. https://video.nostr.build/856dfab5775bfe6045bc6f685961c341153cec11ccac0ebeb0fd5c510cb52233.mov
Discussion
It's also treating the symptoms, not the cause as nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a points out.
Americans intuitively understand that debts tend to get inflated away at some point.
This. Loading up on debt at low interest rates before a hyperinflation event is smart. I can't bring myself to risk taking on debt just to see it inflated away, but I'm sure not paying off my 30yr fixed mortgage early.
Of course credit cards are the dumbest possible way to play that game.
I owe nothing.
Not a single penny to anyone.
Women, lol!
Solid way to short fiat if they give you 0% for 15-18 months. It's an ongoing stimmy for upper middle class now.
Let's see what happens with the demand then.
That’s just r/churning brother. Some literally churn signup bonuses to buy bitcoin. Tbh, these don’t strike me as the churning type though.
I live in Europe where use of credit card is significantly lower In comparison to the US but this clip, just wow…..
Financial slavery âś…
🤢
Zero. And I pay down my cards before interest compounds. In the meantime though it's a free loan for a month.
Like Matt said this is just #churning for sign up bonuses/miles.
Show me an incentive and I’ll show you an outcome.
Most sign up for a year, meet the minimum spend, get bonus, then downgrade/cancel when the Annual Fee comes up the following year.
They do not carry a balance if they know what they’re doing, and there’s a lot of wasteful “manufactured spending” (think buying rolls of quarters with a card then depositing them back into a bank, gift cards, etc)
I haven’t paid for a flight with money since 2015 when I learned about it. Not for everyone though..
congrats. You got yourself a low-paid job.
Courtesy of nostr:npub102hlt959hwackt757fm6e27fjcl45meutv5c52333kazuqf05ghq0xdes6
https://bitcoinmagazine.com/culture/bitcoin-songsheet-airline-miles
I maybe open 1 card per year if the bonus is good enough to pay for a round of flights for my family. Wouldn’t really call it a job- if I did I wouldn’t mind making $500-1000/hr while bleeding cc companies.
Otherwise I use cash and Bitcoin.
No need to be condescending
Yeah, I have been doing the same. Use the new card for gas, groceries, bills, never carry a balance and get a free vacation for the family (ok, depending on the card you might need to pay $100-300 for a one time annual fee).
Most minimum spend is really easy to achieve so you never buy extra stuff to hit the target.
debt slavery ... part of the agenda.
It's unethical but I think, in fiat land, taking on as much debt as possible is the smart move.
Are the numbers being shown their IQ levels?
At least Alex felt bad about it