{"id":33566,"date":"2022-07-12T14:10:27","date_gmt":"2022-07-12T21:10:27","guid":{"rendered":"https:\/\/offgridsurvival.com\/?p=33566"},"modified":"2022-07-12T14:17:16","modified_gmt":"2022-07-12T21:17:16","slug":"economic-collapse-watch-americans-resorting-to-microloans-to-buy-gas-and-groceries","status":"publish","type":"post","link":"https:\/\/offgridsurvival.com\/economic-collapse-watch-americans-resorting-to-microloans-to-buy-gas-and-groceries\/","title":{"rendered":"Economic Collapse Watch: Americans Resorting To Microloans to Buy Gas and Groceries!"},"content":{"rendered":"\n

As our economy falls further into the abyss, with inflation pushing gas and food costs to record highs and Americans still refusing to go back to in-person work environments, people are now resorting to taking our microloans in the latest Ponzi scheme to keep the American Dream alive.<\/p>\n\n\n\n

Sadly, the house of cards seems ready to collapse as these microloans are not for buying the usual consumer goods and electronics but instead are being used to be able to pay for a tank of gas or to put food on the table.<\/p>\n\n\n\n

Earlier this week, Bloomberg<\/em><\/a> reported that Swedish fintech company Klarna Bank \u2013 which in the past primarily lent money for smartphones and other consumer electronics – has seen a flood of applications <\/strong>for staples such as food and gas. The fintech bank provides interest-free loans that allow people to spread payments out over multiple installments. As a result, they make money charging retailers a small per-transaction fee and interest on longer-term loans.<\/p>\n\n\n\n

“I noticed that I could buy essentials with it and not have to pay everything upfront. And it wouldn’t affect my pocket as much,” said Linda Cruz, a 37-year-old mother of four from a small town near San Antonio, Texas.<\/p><\/blockquote>\n\n\n\n

Linda Cruz, a mother of four from a small town near San Antonio, Texas, says she started out using Klarna’s interest-free loans for occasional, large purchases <\/strong>— like a new air conditioning unit after hers died during a heat wave last summer. But as prices started to rise for essentials, she started using it for groceries, too. <\/p>\n\n\n\n

Be Prepared: This worst is yet to come!<\/h2>\n\n\n\n
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With inflation now officially at 8.6% — of course, we know the actual number is much higher — and food prices rising the fastest in 40 years, Americans are hitting a breaking point. Credit card debt, which dropped during the pandemic as Americans used government stimulus checks to pay down balances, has rebounded to all-time highs.<\/p>\n\n\n\n

Prices expected to go much higher!<\/strong><\/p>\n\n\n\n

Patrick De Haan, head of petroleum analysis at Gas Buddy, says, “Next time you go to the grocery store or the hardware store, you buy something online, you’re going to pay for it. Or I should say you’re gonna pay much more for it, given the fact that diesel prices now we’re approaching $6 a gallon for a national average.”<\/p><\/blockquote>\n\n\n\n

The New Normal was always about crashing the American Dream<\/h3>\n\n\n\n

As we talked about numerous ties during the so-called pandemic, there is a reason they kept using the words \u201ca new normal\u201d in all of their reporting. They were conditioning the public to accept this crap and trying to dull your senses so you wouldn\u2019t fight back!<\/p>\n\n\n\n

This morning, CBS News began running segments telling younger Americans to reconsider moving out on their own, and instead stay with their parents!  <\/p>\n\n\n\n

CBS tells Americans to put off purchases and to continue living with their parents to handle rising prices under #Bidenflation<\/a> pic.twitter.com\/WUzB1cjWW8<\/a><\/p>\u2014 RNC Research (@RNCResearch) July 12, 2022<\/a><\/blockquote>