Americans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track
www.bloomberg.com
Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.

Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.

Paywall removed: https://archive.is/9SYHz

      • @venusaur@lemmy.world
        8•2 months ago

        For sure, but there were individuals buying homes too. Also, no savings, no more Airbnb and maybe can’t afford rent. Corporations will lose money, but they can sit on properties indefinitely.

        • BigFigEnglish
          9•2 months ago

          The eventual ending of a scenario can either be government stepping in to take back properties, or one of two darker outcomes, the people take back property by force, or the corporations defend property by force. Imo all outcomes are grim

          • @No_Eponym@lemmy.ca
            3•2 months ago

            Surprise twist, Yellowstone suddenly blows up before any of these scenarios play out. The few remaining bacteria take back the properties. With no more scentient life present, “grimness” ceases to be a concept and there is no reflection on the present situation, the past, or potential futures. The outcome simply is.

            • BigFigEnglish
              4•2 months ago

              We can only hope for such an outcome

          • halfwaythereEnglish
            1•2 months ago

            Ha! You think the American public has the backbone to take anything by force? Not fucking likely. Corps will utilize law enforcement who are already militarized. Large part of the bell curve of the population can’t even think for themselves let alone coordinate to do something productive. They haven’t got what it takes to stand up for themselves. They think they do but they don’t. This goes for both sides of the 2 party system.