It’s almost like we have no money and don’t have a choice because having ridiculous luxury items like FOOD, requires you know, money.
Just uh, stop being a poor!
Problem solved.
It’s not that difficult! Just borrow a few millions from your parents, and become CEO of your own company.
Rent some boot straps!
Cost of rent is such a con. It continues to rise and been proven to be manipulated by software (RealPage). Then shrinkflation… and inflation… cost of energy. Cost of insurance. Literally everything. EXCEPT the one thing which SHOULD go up: wages.
But hey, corporations can just bake bread and be exempt from minimum wage increases; California and Panera, though they got in so much hot water it was backtracked… but holy fuck that’s the shitty weasel way of corps.
Don’t you just love rent/housing? Oh, sorry you don’t make enough money to qualify for a mortgage. But hey you can pay $1,500/month+ to pay your landlord’s mortgage!
Housing is a human right. Housing for all!
This is yet another massive sign of an oncoming recession in the next 6-12 months. Inverted yield curve, more part time jobs, layoffs, commercial real estate collapse, etc.
In September 2024 student loan payments start back up. They’re semi on pause if you have financial hardship, interest still accrues. 45,000,000 people with student loan debt.
That adds another one to the list. Unfortunately I don’t see a way we avoid a recession into 2025. It’s basically inevitable at this point given the conditions.
Capitalism has been a resounding success, hasn’t it?
Every system must be tried and taken to the extreme where it eventually crashes and gets replaced. It’s the nature of things.
As a socialist, I’m still waiting for it to be tried.
I mean, the average human is better off than they’ve ever been largely due to profit driven innovation. So in that sense yes it has been. But yeah obviously capitalism will continue to slowly eat us alive unless we take control of it and better direct it’s benefits at everyone instead of just a few.
So now they’ve made it easier to go in debt for lunch
What’s the interest payment/cost for this kinda service? I’ve fortunately never been in a position to need it.
I’ve used affirm a few times in the past for larger purchases. So I bought a $600~ table saw and you pick the length of the loan in months 3/6/12 whatever. I didn’t get whatever months interest free but the interest didn’t seem too crazy. It was like a couple of bucks every month and if you pay it off early you don’t have to pay the rest of the interest. It’s convenient for the purposes that I use it for. I’m really glad that I’ve not been in a position to need it for groceries.
Little or nothing if you make the payments.
If you miss a payment, the rates go sky high.
I saw a youtube video yesterday about a bank executive explaining banks in a humorous way, and the best line was
“you don’t need to afford the item, you need to afford the interest payments OF the item”
He’s not wrong, but this comes off as “it’s only a banana Michael”. If he’s talking about a house, then yes. If he’s talking about groceries, that adds up quickly. Don’t just pay interests on everything.
I don’t know the difference between this and using a credit card? You can extend payment using a CC, are the interest rates that much lower?
Not much difference, but it’s usually fairly predatory.
It’s not that it’s a fairly new thing- it’s that people are having to do it for necessities. Which just makes everything more expensive as your (probably) now on a credit treadmill.
How is buy now pay later “niche”? There’s literally a scene in the bible about this practice. People have been buying things on credit for longer than money has existed.
Hi. Can you please tell what is that scene?
But into our religion and follow our rules now, so you can go to the happy cloud place later.
