Gladly Pay You Tuesday…, Due to Bidenflation Some Americans Turning ‘Wimpy’ And Resorting To Taking Loans to Eat

In the ‘Popeye’ comic strip* and cartoons, J. Wellington Wimpy (AKA ‘Wimpy’) is perpetually broke and looking to score a meal now for a promised payment another day (always Tuesday, for some reason). The Biden Usurpation has intentionally unleashed a risky scheme to terrorize Americans, and that includes limiting resources we have plenty of OR giving them to illegal aliens who have no right to be in this country. They did it with baby formula, for which there were stockpiles at the border to hand out to illegals, but American parents all across the country couldn’t find any. They are doing it with water and gasoline too.

The left’s accusation is that we don’t have enough natural resources, but we do. They also say we are the violent ones, but they are. They further claim we are fascist/Hitler, but they give fascist/Hitler speeches and govern with policies he would embrace.

Thanks to them, the cost of everything is rising, but food is the first pressure point as people have to eat to survive (equally important is water, so look for them to strike there eventually). You can survive 8-21 days without food, but only 3 days or so without water.

As belts tighten, 2022 has brought about a raft of ‘buy now, pay later’ (BNPL) options and apps, all offering instant credit with no interest but hiding large late payment and other fees. It isn’t just groceries, as restaurants and even ‘fast food’ chains are getting in on the action too. We don’t want to encourage use, so we won’t name them, but if you think Bidenflation is bad then imagine buying anything at those prices, then paying for it later after fees are added in.

The rise in usage came suddenly post Covid as total transactions tripled from 2020 to 2021 and are now approximately $46 BILLION. Food wasn’t the main BNPL section but is now the highest growing portion of their business. One company recently saw BNPL purchases for groceries rise 95% and restaurant meals saw a 64% rise, while the year over year rate from July 2021 to July 2022 cost of groceries increased 13.1%.

Those who support BNPL claim it is an alternative to credit cards that charge higher rates, but BNPL is still a business which expects to make a profit and being just a little better than a credit card isn’t helping this economy. Also, poison and being stabbed work at different speeds too, but we don’t want to experience either one.

BNPL claims to restrict use if payments are missed and that the default rate is about 1 percent. Industry watchdogs say the BNPL don’t charge interest, so they aren’t as regulated as credit cards, but the fees they do charge can still add up to about 25% of the purchase price, which is higher than the credit card industry average interest rate, and late payments still impact your credit rating.interest,

At the same time, traditional credit card debt is soaring, and with the current interest rate being about 18% good luck ever paying that off. Such debt just rose 13% last quarter, which is the biggest increase since 1999. Including home loans, Americans have over $16 TRILLION in debt now.

While some BNPL companies claim they are a lower cost method of credit, the truth is that the average BNPL user carries more debt than your average American does, with over 41% having a poor credit history. Traditionally, BNPL has been used for large purchases, but increasingly consumers are using it for everyday needs. The temptation comes from being able to put just 25% down and pay the remainder off over the next two months. But 33% of BNPL purchasers report falling behind at least once in payments and 72% said it hurt their credit score.

We personally use credit cards like debit cards (paying them off ASAP, often within hours), debit cards only to get cash at ATM’s (for no fee, EVER), and cash to buy virtually everything (because purchases feel real when you pay with cash). Our best advice is to run away from scams, not towards them (no matter how good they sound).

*which began in 1919 as ‘Thimble Theatre’ by E.C. Segar and did not feature Popeye until about 10 years later, then was eventually renamed for his popular character.