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Burrito Now, Pay Later: DoorDash - Klarna Deal Feeds US Debt Addiction

Posted by freedomforall 1 month ago to Humor
12 comments | Share | Flag

The reactions online to this 'deal' force me to classify this as 'humor.'
Excerpt:
"We've reported on many indications of a faltering US economy being propped up by debt, but our latest entry is particularly emphatic: DoorDash has inked a deal with Klarna that will let cash-strapped consumers pay for restaurant food, groceries and other delivery orders in four equal, interest-free installments, or "at a more convenient time, such as a date that aligns with their paycheck schedules."
...
“They’re called DoorDash Default Swaps.”
...
"So then they securitized all the DoorDash loans and sliced them into tranches to sell off to the banks

Rating agencies were slapping AAA on Chick-fil-A orders for credit scores under 500 who didn’t leave a tip"
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Build Back Better, eh?

All Comments

  • Posted by $ Abaco 1 month ago in reply to this comment.
    Yeah...My family lived within our financial means. It wasn't all great times all the time. But, you don't need a new car every year and a toy hauler full of expensive stuff to have a good family life. I remember being shocked when I entered my 20s and seeing all the shiny new cars my contemporaries were driving. I was the weirdo. Haha...
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  • Posted by freedomforall 1 month ago in reply to this comment.
    Could several generations have never learned the hazards of debt ?
    I don't recall being bombarded with advertising for credit when I was young,
    (and my parents did constantly emphasize why carrying debt could be unwise.)
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  • Posted by $ Abaco 1 month ago
    I can't wrap my head around this. Are we this close to economic Armageddon?
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  • Posted by tutor-turtle 1 month ago in reply to this comment.
    To add insult to injury, the food is made from GMO ingredients banned in almost every modern country.
    Making people sick... on credit!

    MAHA.
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  • Posted by $ allosaur 1 month ago in reply to this comment.
    What the handlers of their senile mouthpiece, that little Big Guy Puppet-In-Chief, wanted us to believe was that higher prices for everything was required because whatever the dire threat of Climate Change turned out to be would EEK! MAKE US ALL DIE!
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  • Posted by $ Commander 1 month ago in reply to this comment.
    Hmmm ...... got a few weeks reading time? This will look like George Carlins expanded 7-words. The one that rolled off the end of the stage as he let the scroll run.
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  • Posted by $ Commander 1 month ago in reply to this comment.
    The Fed already pumped in 4.5b. Will Trump hold the banks accountable or paralyze them under emergency power? This could be a very bad ride over the next year or two. I'm prepared for anything except fallout and bio/chem widespread. At best guess, I'm one of a dozen, in a county of 80k, that may be seeing and understanding this dynamic.

    The Fed and all the satellites need to collapse. I hope there is a plan for control. Too many variables for me to track with my tech.
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  • Posted by $ Commander 1 month ago
    So then they securitized all the DoorDash loans and sliced them into tranches to sell off to the banks 2005 to 2008 mortgages?

    Rating agencies were slapping AAA on ....... Watch the big equity companies, at present, for debt repackage as in the above.
    Reply | Permalink  

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