What Happens When Millions Stop Paying Their Credit Cards - The Journal. - WSJ Podcasts

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🎧 Listen: In today's episode of The Journal podcast, AAndriotis explains how consumer debt had climbed to record levels before the pandemic, and what’s happening now that millions of people are unable to make payments

Kate Linebaugh is the co-host of The Journal. She has worked at The Wall Street Journal for 15 years, most recently as the deputy U.S. news coverage chief. Kate started at the Journal in Hong Kong, stopping in Detroit and coming to New York in 2011. As a reporter, she covered everything from post-9/11 Afghanistan to the 2004 Asian tsunami, from Toyota's sudden acceleration recall to General Electric.

Previously, he spent more than four years in the newsroom covering the wireless industry, and was responsible for a string of scoops including Verizon's $130 billion buyout of Vodafone's stake in their joint venture, Sprint and T-Mobile's never ending courtship and a hack of the 911 emergency system that spread virally on Twitter. He was also a regular author of A-heds, including one about millennials discovering TV antennas.

Source: Loan Digest (loandigest.net)

 

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AAndriotis If the top10 issuers expect revolving credit to contribute to the crucial 30% that make their $$$interchange programs profitable, how far can delinquency get b4 bottoming out?

AAndriotis The economic growth of Trump administration was a FALSE growth. Govt, businesses and consumers were propped up by debt and savings drained, leaving all unprepared for any disaster or emergency. The coffers were emptied to thieving rich mongers.

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