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Joined 2 years ago
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Cake day: July 18th, 2023

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  • There are a couple of benefits to credit cards (in the US at least).

    • Protection: If some steals my credit card info, I can fight the charges with the credit card company (and am not out any money while sorting it out) . With debit cards the money is gone and you’re fighting to get it back.
    • Rewards: most offer good cash back or point rewards. It means I save 2-3% on average compared to using a debit card
    • Persk: Many cards will add coverage for car rentals or discounts just for using them for the purchase.

    If you pay off the card each month you get all of those persk at zero cost. While technically credit card companies charge stores 2-3% for each swipe, in the US at least there is no price difference for the customer for cash/debit/credit.

    Edit/TLDR: In the US it’s cheaper and safer to use a credit card (if you can pay the balance every month).









  • That’s a fair criticism, if things can get worse for people when we aren’t in a recession, then why would we care about recessions.

    The truth is that a recession is just one metric that we use to track the economy. However, the economy is a big complex system and things like recession are there to track a global state, and aren’t refined enough to track things like inequality.

    One failing in recent times for economic data is around “full employment vs part time employment” and other things like “is this person making a livable wage”. The hard thing with a lot of inequality or livable wage discussions is they are inherently political and not something that is as easy to track/detail/communicate/etc. vs numbers like GDP.

    So, yes having better numbers would be great, but most likely this admin will fudge and hide numbers making things even more difficult to track (both now and in the future). Additionally while people are hurting now, during a recession even more people will be hurting (and most likely hurting worse than they are now).