Collapse@lemmy.mlEnglish · 6 months ago

Americans Are Racking Up 'Phantom Debt' That Wall Street Can't Track

www.bloomberg.com

cross-posted to:
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Americans Are Racking Up 'Phantom Debt' That Wall Street Can't Track

www.bloomberg.com

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Collapse@lemmy.mlEnglish · 6 months ago

cross-posted to:
[email protected]

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.

cross-posted from: https://lemmy.world/post/15144297

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

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CaptObvious@literature.cafe
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6 months ago
So basically Wells Fargo can’t deal with layaway?

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Collapse, in this context, refers to the significant loss of an established level or complexity towards a much simpler state. It can occur differently within many areas, orderly or chaotically, and be willing or unwilling. It does not necessarily imply human extinction or a singular, global event. Although, the longer the duration, the more it resembles a ‘decline’ instead of collapse.

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