Hungry for Debt?
Debt trap danger lurks at the grocery checkout
$17 trillion. That’s the current total of debt held by Americans — a new record!
We’re always winning!
That total includes a staggering $1 trillion in credit card debt.
While inflation has led to soaring corporate profits — or, maybe the profit padding is part of the inflationary problem — real wages have remained stagnant.
That means less buying power.
Nevertheless, as Rally’s/Checker’s tells us: You Gotta Eat!
Enter our friends in the Buy Now, Pay Later industry.
A small-dollar credit product that became popular during the pandemic for allowing consumers to buy an item and pay for it in installments — thus stretching their uncertain dollars — Buy Now, Pay Later continues to experience remarkable market growth.
The Washington Post notes:
The $309 billion industry is projected to swell more than 25 percent by 2026, according to analytics company GlobalData.
What’s all that borrowing buying?
Groceries!
