Wealthion - Be Financially Resilient cover image

Thinking We'll Avoid Recession Is Delusional | Michael Green

Wealthion - Be Financially Resilient

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The Effects of Revolving Credit on Social Behavior

Sally Kohn: I'm looking at all this sort of pretty grim macro data, but like the airports are still full. We are seeing that people are financing a lot of their lifestyle increasingly on revolving credit, right? So maybe they're just shifting to, you know, put a non-plastic until they can't anymore, she says. The flip side of that is when the animal spirits go in the opposite direction, people are suddenly forced to reevaluate what it means to be an American. She asks if there's anything more frightening than someone who puts 30% interest rate revolving debt so he could get pizza delivered by dominoes.

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