Credit Cards Are The Only Means Of Survival For Americans At The Moment Due To The Exorbitant Inflation Rate

by AC

Every time I go to any store at all I am throwing around at least a $100 like I’m a 90’s rapper at a strip club. I make a pretty decent amount of money and I’ve been actively saving money for a few years now and I’m slowly seeing my savings dwindle. I also can’t help but notice that everyone else is still driving $80k trucks, buying tons of grocer and filling their gas tanks like no problem. Where the hell are they getting all this money? To fill a truck up costs a $150. To buy a week of groceries for a family costs $400+. Even a fast food for 3 costs $35. It’s getting really rough out there.

Yesterday I bought a hoodie, two types of beer, McDonald’s for 3, a pumpkin patch ticket for 2, 2 cans of paint and a 3 pack of paint rollers and a full tank of gas and I spent overall $320. $320 for all that! That’s a hell of a lot of money.

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New Report: Credit Cards the Only Lifeline Left for Americans. NEAR Tripling in Usage This Year!

The Average Number of Credit Card Transactions Per Day & Year
Erica SandbergNovember 9, 2020
Credit card users make a mind-boggling number of daily transactions every year. The figures are astounding, whether you’re looking at what’s happening in the United States or in countries across the globe.

Credit card payments in 2018 totaled $44.7 billion in the U.S. alone, according to The 2019 Federal Reserve Payments Study. The speed at which these transactions process is awe-inspiring. Credit cards can settle 5,000 transactions per second.

There were 39.6 billion combined purchase transactions in the U.S. in 2019. This figure includes 31.2 billion purchase transactions from the top 50 issuers of Visa and Mastercard credit cards in the U.S. plus another 5.66 billion from American Express and 2.72 billion from Discover.

If you divide that figure by 365, the results show that more than 108.6 million credit card transactions occur in the U.S. every day.

WSJ: The U.S. will enter a recession in the coming 12 months as the Federal Reserve battles to bring down inflation, the economy contracts and employers cut jobs in response, according to The Wall Street Journal’s latest survey of economists

Economists Now Expect a Recession, Job Losses by Next Year
Majority think Federal Reserve will start cutting rates in late 2023 or early 2024

 

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