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The Atlantis Report, 11/5/23
"Credit Card Companies Pump The Brakes
On Lending, MAJOR Economic Meltdown"
"We're experiencing a record surge in defaults, hitting the highest levels in 24 years. Presently, debt delinquencies are on the rise, surpassing 2019 levels. 43.5 million Americans have resumed paying their student loans in October. What can we expect in the coming months? A probable increase in deficits across various sectors. With the upcoming holiday season and increased spending on gifts, people will rely more on credit cards. This will lead to a higher rate of defaults. If the companies struggle to collect fares, they will identify high risk individuals and their access. This trajectory will lead to what appears to be an impending credit crunch in the United States."
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