You would be surprised to learn that this is far from the truth.
www.gallup.com/poll/22879/Credit-Card-Owners-Average-Balance-More-Than-3000.aspx
To use a simple majority means that you'd have to accept a simple statement like "Most programmers use Javascript"[1], and that's too weak to use for any reasoning.
[1] https://web.archive.org/web/20160317205014/http://stackoverf...
This paper[1] gives a couple interpretations, none of which are as strict as the one I use. I wonder if I mixed up "conversational implicatures" with a heuristic for logical implication.
In any case, I've apparently been wrong about the meaning of a basic English word my whole life, and I can't find a good cover story to hide the mistake.
[1] http://www.zas.gwz-berlin.de/fileadmin/mitarbeiter/solt/Most...
If we're talking grammar, then it is "a couple of interpretations".
Traditionally China is known as a nation where people save, and debt was not seen favorably at all.
This is a cultural thing, which has likely been wearing out since the 1990s.
I think it was the Reagan administration made credit card debt interest tax-deductible and the cat was out of the bag.
Of course, China's rapid rise in personal as well as private and public sector debt is evidence of a changing society.
While that is a lot of debt, it is nowhere the same as saying you have $500k of debt on credit cards. Credit cards are unsecured debt; it's debt with little or nothing behind it.
Mortgage debt, though, is a secured debt. In theory, you could sell the houses, maybe for more than you paid for them, and possibly or likely more than you owe on them (that is, you gain the equity). Of course, you could also be upside down, but you still have the property, and you could just sit on it, rent it out, and continue to make payments on it from rent (or whatever) until the market comes back.
NFC isn't "better technology", just different to QR code. NFC also handles 1 payer at a time whereas QR can handle multiple, in parallel depending on the physical display size.
NFC requires special equipment. QRs can be displayed on screens and printed on paper which makes them incredibly more accessible and far-reaching.
NFC is invisible, which looks better IMO that a block of pixels with the occasional ill-fitting logo in the center. But tbh at the end of the day they are doing the same thing, the big difference being one is using some new sensors and electromagnetic frequencies to do the job, while the other is using visible light and a sensor that is installed on every phone in the world and everyone is familiar with already.
However I think the image recognition processes must be improving as the last couple of times I've used them (for TOTP setup) recognition was very fast, < 2 seconds of the camera app. coming on as I was moving the phone into position.
Meanwhile the whatsapp web code reader on the same device and same qr code takes more than 6 seconds of careful aligning, and even on modern devices there are still some hilariously bad code readers (having to manually align the corner squares with an overlay)
A good QR reader does not require much lining up, just pointing the phone in the general direction of the code is sufficient, I'm consistently surprised by how fast some QR readers match codes.
That's significantly less work than having to bring your phone right next to a reader.
The annoying background video shows it: http://mobilepay.dk/da-dk/Pages/mobilepay.aspx
(and the payment sent screen can be spoofed)
For tips it seems fine
http://time.com/money/4213757/average-american-credit-card-d...
Strange, I never carry a balance, and I still get all the points common in the credit card system.
Anyways, debit cards work just like QR pay does, just like UnionPay already does. The problem QR codes are solving is the lack of a POS terminal and stream lining the swipe. Many countries have an even better technology in NFC contact (including China, many newer UnionPay POS's include NFC, though the card must have a chip to support it). Then you could just glue your debit card to the back of your phone...(or use NFC in your phone via something like Apple or Android Pay).