Josh Sigurdson reports on the massive credit card debt American families are facing across the board and highlights the top ten cities where families face the MOST debt.
The top three are Dix Hills, New York, Darien, Connecticut and Ewa Beach, Hawaii.
This story has many backgrounds. From inflation skyrocketing to the terrible lack of education the younger generations receive. Most notably, the constantly growing numbers of loans being handed out like candy to unwitting people who don’t understand how money works and how debt pushes people into servitude.
If you shove someone down a bottomless pit of debt, they are forced to ask for a ladder up from the government and banking system pushing them into perfect servitude, right where those entities want them. While we see loan on top of loan in order to pay off other loans while people use credit cards without a second thought about how much they’re spending, the inevitable will happen. Attach this to the baby boomer generation going into debt trying to pay for younger generations all while being the biggest spenders into the economy, the stock markets bubbling, the price of living skyrocketing and closure of so many malls and big businesses across the country and you have an unmitigated disaster waiting to happen.
Just wait until people realize their pension has disappeared due to a massive shortfall.
There are more solutions than problems and it all comes down to individual responsibility and self sustainability. There are ways to prevail despite the obvious brick wall in the middle of our path, but we can keep ourselves safe if we understand the problems and apply the solutions as free individuals rather than dependent servants.
Stay tuned for more from WAM!