1/🧵 Credit card delinquency in the US is at its highest since 2012, signaling financial distress. This economic strain is impacting investments in speculative assets like meme coins, which have seen a significant drop. #threadstorm
1/🧵 Credit card delinquency in the US is at its highest since 2012, signaling financial distress. This economic strain is impacting investments in speculative assets like meme coins, which have seen a significant drop. #threadstorm
2/🧵 Despite the market downturn, 'degens' investors in high-risk assets remain undeterred. Their behavior reflects a cultural shift towards normalization of speculative risks, possibly as a reaction to instability in traditional financial systems.
3/🧵 The resilience of meme coin enthusiasts amidst financial hardships suggests a trend of economic escapism. This could indicate a long-term shift in attitudes towards high-risk investments, even beyond current economic challenges.
https://inleo.io/@buffiey/why-meme-coins-and-credit-card-debt-might-be-a-dangerous-mix-3or