Quote:
Originally Posted by Leon
And where else are you going to put your money right now? Cards almost seem safe compared to the stock market. LOL
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As white collar workers lose their jobs (worst is expected in 2021), they will stop buying cards and do what has always been done before by stressed out individuals during a recession.... They will buy cigarettes and alcohol, and they will gamble. When people are stressed, they look for stress relief.
And retirees better hope the Senate does another stimulus package and give money to states and local entities. A lot of pensions could be stressed and shocked, just like Detroit in the last recession, then they had to file bankruptcy. A pension cut in half doesn't allow a lot of money to buy cards.
Of course the 24 rich individuals driving the boom will still be around to bid on cards.....
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