return2ozma@lemmy.world to News@lemmy.world · 8 months agoCredit Card Delinquency Rates Are At Highest Level Since 2012www.forbes.comexternal-linkmessage-square11fedilinkarrow-up1115arrow-down13
arrow-up1112arrow-down1external-linkCredit Card Delinquency Rates Are At Highest Level Since 2012www.forbes.comreturn2ozma@lemmy.world to News@lemmy.world · 8 months agomessage-square11fedilink
minus-squareAlecSadlerlinkfedilinkarrow-up11·8 months agoSome crazy part of me wonders what would happen if 50%-75%+ of people just straight up refused to pay. And, not for like…one month. But 6-12 months. It would have to have a meaningful, negative impact to banks? Right?
minus-squareeee@lemm.eelinkfedilinkarrow-up11·8 months agoParaphrasing a common saying… If 100 people can’t pay the bank back, the 100 people have a problem; if 100 million people can’t pay the bank back, the bank has a problem.
minus-squareApostleO@startrek.websitelinkfedilinkarrow-up10·8 months agoDebt strike! Debt strike! Debt strike!
minus-squareHubertManne@kbin.sociallinkfedilinkarrow-up1·8 months agoim pretty sure their card would get canceled and then debt collections would start.
Some crazy part of me wonders what would happen if 50%-75%+ of people just straight up refused to pay.
And, not for like…one month. But 6-12 months. It would have to have a meaningful, negative impact to banks? Right?
Paraphrasing a common saying… If 100 people can’t pay the bank back, the 100 people have a problem; if 100 million people can’t pay the bank back, the bank has a problem.
Debt strike!
Debt strike!
Debt strike!
im pretty sure their card would get canceled and then debt collections would start.