Most people hardly ever feel what it's like to not be in debt. How can it be a surprise that savings is so low when credit card debt is so high? The long term health of this countries people is in jeopardy, I mean, you can only take so much before there's nothing left to give and we stop calling it credit card debt and give it's true name, slavery. Though, a lot of people are to blame for buying things they can't afford, there's still a good number of people that, even with good financial sense, can't get out from underneath that damn rock.
Thanks for helping to bring what's going on into a better focus for me! Definitely a good birds eye view of a lot of different things for one who spends a lot of time in the creative world.
The desire to earn easy money is prevailing. When people saw crypto boom, they decided to jump in. The auto loans are increased, because saving went in cryptos and if someone would finance his/her car with 50/50 savings/loan scheme now is financing with 10/90 or 0/100.
This is why I kept saying that all this reminds me the housing bubble but with many different elements, new elements.
what do you think now, after the Q1?
Yeah, FOMO all the way. Then when suddenly the market turns upside down their worse off than before :\ We headed for another financial crisis of some kind, that's for sure.