Stories in the Daily Mail online that Barclaycard had arbitrarily slashed credit card customers credit limits across the board by up to 99% with no warning. Looks like they are limiting their exposure? Do they see something coming down the pike like a crash or is it that the DS dark money supplies have been drastically reduced since the Trump EO?
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A crash is coming.
They started borrowing money in 2019 and then use covid as an excuse to borrow more money in 2020.
Other credit card companies slashed or terminated cards for people with VERY HIGH credit scores during 2020. That means it is going to be a lot worse for those that rely on credit cards for basic needs.
Prepare accordingly.
Yeah, and you don’t actually own the assets in a 401k, the government owns it in trust for you. They could confiscate it for some made up reason(social credit?) So it depends on how much you trust the government.
401k is an IRS code governing such investments
Barclaycard is know for this, I heard of the credit limits being cut in the past.