this post was submitted on 08 Aug 2024
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A Boring Dystopia
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On this particular topic (credit card debt) it is way better in other places.
The median credit card debt is by far the highest in the US compared to other countries. https://www.cardrates.com/advice/average-credit-card-debt-by-country/
But how much of the US credit card debt is people who can't control their spending vs economic problems?
I have seen plenty of people who can't really afford it, have the latest iPhone.
I can afford the latest iPhone, yet I have a $125 android.
Do you think Americans tend to rack up more debt than people from other countries?
If so, do you have an hypthesis as to why that would be the case?
I'm curious since here (France) debt is pretty uncommon and the volumes usually way lower are than in the US (and Canada).
Yes.
But I have no idea why, other than we have a lot of people that try to stay current with trends.