“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” These methods to subjugate the masses mentioned by John Adams two centuries ago are still effective, and I think it’s safe to say they are both in use nowadays.Financial Argument
Although the mainstream media is praising how much money Americans saved over the last couple of years and how much debt was paid off, recent data shows Americans are once again falling into debt and increasingly relying on credit cards to pay their bills.
With the end of the eviction moratorium, some people are faced with a choice between homelessness or credit card debt. For those who have the option, paying their rent with credit cards is the only way out, as many Americans have done in the last couple of years.
If the situation continues this way, the U.S. will fall into a massive credit card debt crisis. Most rentals in the USA are mom-and-pop operations, so debt and evictions don’t only affect tenants themselves. There will be consequences for the government recklessly printing money and for those who foolishly squandered away their money and expected the government to bail them out.
It doesn’t matter if you’re current on your bills, how much credit card debt you have, what your credit score is, or if you’ve ever even used a credit card in your life. It doesn’t matter if you’re a tenant or a landlord. This concerns everyone.
00:00 | US household debt climbs to $15 trillion
00:44 | Evictions concerns everyone
01:21 | The landlords
02:34 | The CDC ended the eviction moratorium
03:23 | Americans Paid Off a Record $83 Billion in Credit Card Debt in 2020
04:50 | More Americans Pay Rent On Credit Cards
05:45 | Nearly 1 in 5 Renters not caught up on rent during the crisis
06:42 | Rent debt is worsening the threat of eviction
07:28 | Rents are at an all-time high in almost the entire country
09:43 | Total household debt has increased by almost $3 trillion dollars
10:10 | The US Credit Card Debt Crisis Begins