Millions of credit-card customers can’t pay their bills

Re:Millions of credit-card customers can’t pay their bills by soared on Saturday April 25, 2020 @02:43PM (#22980265)

I don’t think it’s mad. We are just properly leveraged and operating with an acceptable amount of risk. Someone who leverages credit/debt and has proper but not huge (1 year) safety nets will be far better off over their life than someone who doesn’t leverage credit and has large or no savings.

It’s the same as choosing invests - risk (stocks) is better than low risk (bonds) for most people. If you can tolerate risk you should if you want more returns.

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Re:Millions of credit-card customers can’t pay their bills by lotsofpulp on Saturday April 25, 2020 @02:51PM (#22980327)

>Someone who leverages credit/debt and has proper but not huge (1 year) safety nets will be far better off over their life than someone who doesn’t leverage credit and has large or no savings.

This is only be true because the US government keeps borrowing from the future to inflate today. But I agree, you don’t bet against the house, and the house is dead set on making sure asset values stay high.

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Re:Millions of credit-card customers can’t pay their bills by 0xff00ffee on Saturday April 25, 2020 @02:49PM (#22980316)

> We are just properly leveraged and operating with an acceptable amount of risk.

I think that's OP's point. Every word in this sentence is subjective. Throwing around concepts like leverage debt and risk exposure is a way only a mid/well-off person would frame the discussion.

For the other 80% of the US, this statement is madness.

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Re:Millions of credit-card customers can’t pay their bills by soared on Sunday April 26, 2020 @09:33PM (#22992069)

That is fair. Good perspective check.

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