this post was submitted on 15 Jul 2024
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United States | News & Politics

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JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Major Surge in Bad Debt (dailyhodl.com)
submitted 1 month ago by [email protected] to c/[email protected]
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[–] [email protected] 12 points 1 month ago

“[Inflation is] still cumulatively having a bit impact. The folks on the lower end of the wealth or income spectrum are struggling more than folks that are on the higher end.”

Yeah no shit

[–] [email protected] 11 points 1 month ago

This was inevitable. Inflation increased while people complained they didn't have money. That means people were using credit cards.

[–] [email protected] 4 points 1 month ago

And the banks will be getting the bailouts while the end user will still be paying their debt.