OUCH!! Americans Rack Up Record Credit Card Debt!

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What are you doing America? This sucks. This is bullshit. Okay. Come on people. You got to get your bloody act together here. Credit card debt record $1.17 trillion a record. Holy crap. Credit card delinquency rates actually got a little bit better, but it’s still not.

very good. But again, the New York Fed is saying, well, you know, overall balance sheets look pretty good for households. Are you out of your mind? How can you say household balance sheets look good? If you are carrying, okay, here’s a reality check. listen, okay, if you’re a fragile, if you’re a fragile little snowflake and you’re going to get upset and you can’t handle the truth, as Colonel Jessup would say,

You might want to change the channel and continue being miserable living in your debt. If you are carrying a credit card balance, shame on you. Yeah, I’m saying it. Shame on you. I will give a caveat. I will give a caveat. An emergency. God forbid some sort of an emergency. For example, I’ll throw this out there. You’re a

You’re a carpenter. You’re a carpenter and somebody steals all of your tools. And you can’t afford to buy all new tools because you don’t have the cash and you need to put it on the credit card. Okay. But with that being said, that being said, you have to get rid of the credit card debt. No sane person goes out and borrows money at 20 % plus.

rates. You can’t do that. And again, spare me the bullshit. Okay, spare me. I can’t have way. It’s tough out there. Do you have a streaming service? You’re paying for your streaming service? You’re paying for Netflix? All right, you need to cut everything. You need to cut everything. First and foremost, if you have credit card debt, you’re already living paycheck to paycheck.

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Many Americans live paycheck to paycheck. I used to live paycheck to paycheck. Most Americans, I would say ninety- I would say ninety-eight percent of Americans, maybe more, have lived paycheck to paycheck at some point in their life. Okay, you get the trust fund people out there that haven’t experienced that, whatever. But most of us have. Now, if you’re living paycheck to paycheck,

and you have credit card debt paying these ridiculous interest rates, you are treading water while holding on to a fricking boulder, man. Have you ever tried swimming holding a brick, a cinder block? Good luck with that. It ain’t easy. And quite frankly, it will ruin you. Again, I’m gonna be very, very frank.

with everyone here on the program. Again, no spoonful of sugar to make the medicine go down here on the program. Pay it off. Pay it off. I don’t care. I don’t care if you’ve got to work 100 hours a week. I don’t care if you have to work weekends. I don’t care if you got a big job, you think you’re big hullabaloo there.

but you’ve got all this credit card debt, you’ve got the BMW, you go back and you weigh tables. You work at Starbucks, you pay it down because you’re never going to get out from underneath it. It’s a disaster. How many times have I gone over this over the years? How many people that I’ve had to give a reality check to? Oh yeah, Mr. Markowski, Chris, we want to come in and you know, want to…

speak with you and your brothers about putting together, you know, our finances in order here, you’re start saving money. We’ve got the kids gonna go to college and yeah, here they come. Oh wow, they’re nice looking couple. You know, it’s pictures of their kids, beautiful members of the club, boat, you know, nice watch, nice car, $70,000 in credit card debt. You know how many times that’s happened?

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How many times I’ve heard this same story again and again and again. What exactly, okay, what exactly do you think I can do for you? Do you think that the Markowski brothers were a bunch of wizards? We’re a bunch of wizards there. We all went to Hogwarts and we’re gonna both magically make your debt disappear? Do you think?

Okay, do you think that I’m able to show you you’re paying, let’s say 25 % on average on your credit card debt? Do you think that, hey, that’s okay. We at Markowski Investments, we’ll show you 30 % a year. Are you high? We can do nothing for you. But we do, we give people advice. Okay, we give people a talking to. Handle this shit.

don’t care if you’re gonna sell your damn boat. I don’t care if you’re not gonna go to the club. don’t, you know, if you got a cut back on everything, this needs to be paid off first. But again, man, what is it? got that, one of those deadly sins out there, pride.

Pride, yeah, ego, no, no, no, what will my neighbors think? What will the people that I surround, what are they gonna think about if I go ahead and do this? I know exactly what they’re thinking, because they start yesing me to death. Yeah, we’re gonna do that. No, you’re not. No, you’re not, but I’m gonna tell you what’s gonna happen. You’re gonna get deeper and deeper into a hole. The money issues are gonna cause all sorts of problems within your family. Was it worth it? Was it worth your stuff?

Cause you don’t own your stuff, stuff owns you.

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And it’s amazing to me, Dave Ramsey for crying out loud, he’s made a bloody living. He’s got a radio show on five days a week talking about this very thing. It’s not that hard. I played a Saturday Night Live skit on my radio show in the past talking, it was a Steve Martin skit about dealing with debt. Maybe I’ll play it again this weekend. Real simple. You spend less than you’re taking in.

Again, sorry people, and again, I know, guaranteed, you don’t understand, know, that things are tough and inflation. Yeah, I do understand. Don’t tell me I don’t understand. I understand well, okay? I understand that, you know, if something happens, if something happens, and this has happened at points of time in my life where I’m gonna have to sacrifice things.

because unforeseen circumstances have come up, whatever it means, emergency, whatever it may be, you’re gonna have to do that.

You’re going to have to do that. Again, is New York Fed. yeah, consumer balance sheet looks good. $1.17 trillion in credit card debt. That’s not the way to be financially independent people. Watchdog on wallstreet.com.