We all have credit cards these days. Access to credit allows us to manage our current spending somewhat independent of our current income. Around the holidays, we often buy presents on our credit cards even though we likely didn’t get a sudden bump in our salaries. Why would we do that? Because we know our income is reliable and we’ll pay it back over the first few months of the new year.
The Upside Down World of Government Recessions
The Upside Down World of Government…
The Upside Down World of Government Recessions
We all have credit cards these days. Access to credit allows us to manage our current spending somewhat independent of our current income. Around the holidays, we often buy presents on our credit cards even though we likely didn’t get a sudden bump in our salaries. Why would we do that? Because we know our income is reliable and we’ll pay it back over the first few months of the new year.