Ep. 189 - Americans are Using Buy Now, Pay Later for Groceries!?
In this eye-opening episode, we explore the alarming trend of Americans using Buy Now, Pay Later services for essential items like groceries. We break down the latest New York Fed report, revealing that 50% of BNPL debt is now tied to necessities. The conversation shifts to the current state of consumer credit, with credit card delinquencies approaching dangerous levels despite a seemingly strong job market. We examine the stark contrast between homeowners' equity positions and mounting credit card debt, offering a nuanced view of the economy. From the fear and greed index to potential warning signs in the credit market, this episode provides a clear picture of the financial challenges facing many Americans today.
[00:00 - 02:13] - Introduction and Buy Now, Pay Later for groceries
[02:14 - 03:27] - Fear and Greed Index discussion
[03:28 - 07:12] - The "hurricane" in consumer credit
[07:13 - 11:07] - Comparison to 2008-2009 financial crisis
[11:08 - 13:13] - Age demographics of delinquencies
[13:14 - 15:09] - Closing segment
Resources:
Key Quote:
β50% of the total amount of buy now, pay later debt is being attributed to essentials.β - Quinton Harris
______________________
Connect with us:
Facebook: https://www.facebook.com/whatsyour1more
Twitter: https://twitter.com/whatsyour1more
Instagram: https://www.instagram.com/whatsyour1more
TikTok :https://www.tiktok.com/@whatsyour1more
Loan People: https://loanpeoplejax.com/
Please subscribe, like, and leave a comment to let us know you want to keep the content coming!
