On the day President Trump declared “Liberation Day” due to his unleashing of tariffs around the world, The Big Money Show on Fox Business reported that Americans’ household debt hit an all time high — $18 trillion — amidst the pervasive “buy now, pay later” consumer behavior which affects the credit scores of those in debt.
The show’s guest, The Ramsey Show co-host Ken Coleman, responded that “Now we’ve made stupidity even more convenient.” He added, “You’ve gotta have enough sense to not follow the urge to finance a taco.” (He’s referring to an earlier comment about people using credit cards to buy lunch, which they later end up paying a lot more for if they don’t pay off their debt and accrue late fees.”)
Coleman added: “Everybody’s tightening their belt. Everybody’s trying to figure out how to save money here and there, and that’s just a natural game.”
He added, “Listen it’s a roller coaster. You only get hurt if you jump off amid the ride. Be smart, if you have to pull back from your vacation this year because times are a little tighter, fine. Save, plan and you can’t just be like ‘the sky is falling’ looking at the headlines every day to decide how I’m going to live life.”
Note: The Wall Street Journal reported Tuesday that airline stocks are sinking due to “waning demand” and “tariff concerns threaten summer travel.”
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