We're turning more and more into a two class system of the haves and the have nots. Our economy has been based on debt since Nixon took us off the gold standard of economics because we didn't have enough gold to back all the money we had in circulation, but our GNP/GDP was good for it. Printing more money ultimately causes more inflation, which decreases the value of money, which will lead to higher wages, eventually.
People need to live within their budgets. It seems like everyone wants to have all the gear and accessories they see on YouTube, insta, and TikTok and they get overextended. Nobody wants to be on the side of the have nots. Its easy to get caught up in that cycle when you have credit cards that will charge you interest only as you max out the limit on the card . Then get another and max it out . Soon your whole paycheck is going to interest only , entertainment, car note, insurance, rent, etc with nothing left for food. When you're already used to a lifestyles afforfed by credit, it makes sense to finance your sustenance too with the option of declaring bankruptcy when the ends out run the means
