this post was submitted on 09 Mar 2025
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Leopards Ate My Face

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Fox News host worried about economic collapse. (bsky.app)
submitted 19 hours ago by Sir_Kevin@lemmy.dbzer0.com to c/leopardsatemyface@lemm.ee
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Charles Payne warns of a collapse in American spending, citing steep declines in restaurant, airline, and lodging purchases. Bank of America data shows credit card spending stagnating as debt hits record highs. Rising interest rates are squeezing consumers.

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[โ€“] teft@lemmy.world 1 points 15 hours ago (1 children)

thereby never giving the card companies anything.

Nothing except your entire purchasing history which can be used to infer all sorts of things about you.

[โ€“] aquaticape@lemm.ee 2 points 10 hours ago

As well as the 2-4% that the merchant pays to them for every one of your purchases. That is passed on to you in the price that the store charges. Only gas stations regularly give you a discount for cash, and that discount is them just removing that 2-4% up-charge that they need to include to cover their payment to Mastercard or Visa on the very thin margin that they make in selling gas.