r/WallStreetbetsELITE • u/Sweaty_Intention_299 • 14d ago
Discussion Tell me the economy is doing bad without telling me the economy is bad
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u/BanksLoveMe_ 14d ago
Subprime Delivery loans
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u/ShortsAndLadders 14d ago
AAA rated
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u/MerisiCalista 14d ago
Loaded with junk food bonds.
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u/mouthful_quest 14d ago edited 13d ago
All packaged into a CDO (Cholesterol-ised Drenched Obligation)
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u/Rocketeer006 13d ago
So you're telling me....that these things are like dog shit wrapped in cat shit??
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u/_Devoted_ 14d ago
Weâre now entering the Wimpy Wellington era of capitalism âIâll gladly pay you Tuesday for a hamburger todayâ
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u/ShrimpCrackers 14d ago
Might as well let users use 3-4 credit cards to pay for a meal.
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u/Zealousideal-Loan655 14d ago
So, Iâm not old enough to know the name, but I remember that quote from somewhereâŚ..
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u/Short-Cucumber-5657 14d ago
The wealthiest country in the wooooooorrrld⌠experience may vary
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u/Sicilian_Gold 14d ago
lol man things are getting bad.
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u/AggressiveCuriosity 14d ago
I'm just wondering how insanely financially illiterate someone would have to be to get Doordash on layaway.
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u/Aggressive_Finish798 14d ago
I deliver to make extra cash and let me tell you there are people who absolutely should not be using overpriced delivery services. You can just tell by where they are living and how they are living that's its just a string of bad choices.
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u/AggressiveCuriosity 14d ago
I believe it. I actually have this pet theory that at least some of the inflation crunch a certain subgroup of people are feeling is partially just the ability to spend more money having stuff delivered.
It's SO easy to waste money now. Like, convenience wise.
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u/Agreeable-Weather-89 13d ago
And the second you criticise people's choices and say they should be making matters ones you are met with
"avocado toast"
"People are allowed to have fun"
"Something something minimum wage"
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u/N33chy 14d ago
Layaway would mean they'd hold on to your burger until you could pay for it so... might only want to use it for non-perishables đ
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u/AggressiveCuriosity 14d ago
Is THAT what it means? I kind of hesitated when I wrote it, but couldn't be bothered, lol.
"I'll be back to collect my burger in 2 weeks thank you!"
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u/JCVideo 14d ago
I know someone who used to beg for money on the local Facebook queer exchange. Used to because the rules were changed on account of them saying it's for one thing and using it for another. They used to call ambulances for stomach aches and had a stack of ambulance bills in their bathroom. They sit around with no job drawing all the time but when people would commission work from them they would take the money and not deliver any art. Pretty sure they have crowd funded to pay for their pet rat addiction.
I can garun-fucking-tee they will be using this function till they are in collections for a mcdub
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u/webthing01 14d ago
Just another way to rip the poor people off.
What's the credit rate?
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u/Superdooperblazed420 14d ago
Probly very very high like those predatory car loans.
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u/ChampionshipIll3675 14d ago
And payday loans. There's so much lobbying money spent by these companies.
John Oliver had done a segment on predatory loans. It is obscene what these companies get away with.
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u/mean--machine 14d ago
I have zero sympathy for anyone that puts a milkshake on loan
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u/S4Phantom 14d ago
Itâs going to be kids doing it on their parents accounts and fucking shit up big time
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u/Successful-Train-259 14d ago
Honestly, I kinda want to default on a loan for a milkshake just to see what happens. LOL
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u/LaZZyBird 14d ago
This is the âstrippers in Florida noticing less customers and owning three propertiesâ moment of our generation lol
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u/negative3sigmareturn 14d ago
100%. First serious time Iâm questioning in liquidating absolutely everything and buying something like gold bars lol
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u/nubtraveler 14d ago
Doordash is like paying a taxi for your food, dont do that unless you are a baller.
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u/Aggressive_Finish798 14d ago
Sadly, a lot of people these days don't see it as a luxury to get anything delivered to them at any time. They seem to see it as normal and they just use it all of the time.
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u/Public_Mention_6828 14d ago
Oof. And now with Trump pushing the Fed to lower interest rates, itâs going to be the nail in the coffin if they do.
Fucking private equity is going to leverage tf up and buy all the single family homes. â°ď¸
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u/Crepuscular_Tex 14d ago
You mean the future cheap rental fourplex studio living spaces?
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u/Public_Mention_6828 14d ago
Havenât seen those. đ§ is that in the plans?
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u/Crepuscular_Tex 14d ago
Bad joke based on low income apartment buyouts around 2016. The apartments were "renovated" with a coat of exterior paint, then they drew a floorplan dotted line across single room 'efficiency' apartments making them 'studio' apartments, and doubling the rental value of what were originally single room occupancy apartments. Gentrification type stuff. Not that they would do the same with a single family home... Just a bad joke.
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u/Neat_Ground_8508 14d ago edited 14d ago
It's almost like it is intentional. A real estate mogul president and cabinet full of billionaires? No way, definitely must be a coincidence. No way guys like this that benefited last time trump crashed the market would benefit again when he crashes the market this time!
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u/Public_Mention_6828 14d ago
đ all I know is every time he pressures the Fed itâs the wrong move.đ
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u/Positive-Feed-4510 14d ago
Bro I thought of a billion dollar idea: A service to break up the minimum payment on your CC into four installments.
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u/FrankAmerica 14d ago
You could get really creative and break it down for the door dash drivers that get paid daily to make a payment. ^..^
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u/Friendly_Whereas8313 14d ago
People are stupid if they put prepared food delivery on a payment plan. Go to the grocery store.
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u/Dutchbags 14d ago
people who donât have a lot of funds tend to make bad financial decisions, sadly :(
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u/Successful-Train-259 14d ago
People ARE stupid. Predatory lending is nothing more than banks setting people who are already stupid about finance up for failure, and in turn, the economy.
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u/Candlelight_Fant4sia 14d ago
You missed the point. This is what people will do when they have no money left for groceries...
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u/Friendly_Whereas8313 14d ago
Or.... They order fast food delivery on an app and then see they have no money left for groceries.
Stop making excuses for bad choices.
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u/Successful-Train-259 14d ago
Doordash allows you to buy groceries, it is not inconceivable that poor families would buy $500 in groceries and put it on Klarna under a loan.
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u/LambTjopss 14d ago edited 14d ago
Agreed but I do have one very specific almost one time use for this. Here in NZ you can already use Afterpay to buy now pay later in DoorDash. I was unemployed for about a year living on the bare minimum.
I started working two weeks ago again and after two weeks I wanted to treat myself but I'll only get my first salary the 28th. So last Friday I ordered myself a treat meal that I can pay when I get my salary.
It's still stupid but I wouldn't have been able to pay for it otherwise and still survive till the end of the month. It was my little treat and is certainly a once off
Still the worst idea ever
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u/Iconically_Lost 14d ago
You do realise that After Pay is a loan, same as a house/car/credit card. If you do a credit report on yourself to see what credit (CC) or dept obligations (Car/house/ect) you have. This will show up.
That is very bad....
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u/LambTjopss 14d ago edited 14d ago
Nope not in New Zealand. Also nowhere outside the USA does anybody care about a credit score for anything other than a home loan and then they just check if it is good or bad. My credit score is 855 by the way but it's meaningless.
And no Afterpay doesn't show up. They do a credit check when you open an account but usage is never listed. I've had my account for 5 years and I check my credit score monthly
Afterpay new Zealand is different than Afterpay USA
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u/Iconically_Lost 14d ago
I was talking about AUS, figured it would be the same as NZ. There are a number of public cases where people went in and used after pay, to only later find it showed up on their credit report.
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u/Environmental-Fun355 14d ago
Bro if you can't afford a $30 door dash meal then you prob shouldn't be eating out....
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u/SleepySleeper42069 14d ago
If you're at the financial point in your life that you're too broke to afford DoorDash, but still ordering them and buying them in installments, then honestly you're so stupid that you deserve to die of hunger lmao.
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u/Xatraxalian 14d ago
WTF. Back in the 90's in the Netherlands we had a commercial by one of our banks, in which a student wanted to buy a burger and asked to pay it in installments. He got mocked by the snackbar owner and thrown out. (The commercial was about the bank having student accounts that were so cheap that you had money left for everything else.)
Never thought I'd actually see paying take-out or fast-food in installments becoming a reality. That's wild... and disturbing.
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u/waaay2dumb2live 14d ago
Remember how in the 1930âs Germans had to pay before they ate because inflation was that bad?
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u/Rich-Forever1194 14d ago
They started using food amongst other things for goods/services bc the currency became worthless after WWI
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u/manikwolf19 14d ago
This was the first thing I thought when I saw this lmao
Like bro I got my burrito repod
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u/enigmarouge 14d ago
This is hella dystopian. Imagine going to court to fight collections on a meal.
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u/BlackMilk23 14d ago
Let me catch one of y'all eating subprime McDonald's.
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u/MerisiCalista 14d ago
With our low Dollar Menu Cost Averaging and Fries Volatility Index, choose between our Happy Meal Dividend or our Quarter Pounder Earnings!
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u/dicksoutforstonks 14d ago
"My quantitative. My math specialist. Look at him, you notice anything different about him? Look at his face."
"Look at his eyes, I'll give you a hint, his name is Yang. He won a national math competition in China he doesn't even speak English! Yeah I'm sure of the math"
I'd like to buy credit default swaps on buy now pay later backed securities please
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u/imrickjamesbioch 14d ago
Hmm, what could go wrong? Wasnât this the Wimpy business model in Popeye?
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14d ago
This feels predatory like feeding on shut ins. I got a buddy whoâs in his forties and âdisabledâ since he was a kid. Just wants to game all day every single day and has really bad social anxiety and pain from sitting hunched for ten to sixteen hours a day for decades.
People like him spend every penny they have on take out and not going into the real world, this shits wrong.
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u/Present_Cow_1683 14d ago
50 years from now - app shows you a map with the cheapest non polluted place you can take a breath
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u/ChickeNugget483 14d ago
I only have 24 more payments of $9.99 from my doordash order of 1 large drink.
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u/Even-Machine4824 14d ago
Hate to be cliche but itâs still too early.
Things like this donât hit the economy and cause ripples instantly. I agree in a healthy economy why do citizens need to do a Pay in 4 for a hamburger?
Like I get it. But itâs still too early, wait until they rack up huge bills, exhaust all their hardship options and folks havenât paid their bills in like 180 days.
THEN you might be close. Until then? This is just gonna fuel a companies bottom line just like Covid and greed flation.
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u/FrankAmerica 14d ago
Well with US CC debt at 1,200,000,000,000 and many maxed out...only makes sense to approve more debt!
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u/Tommy_Sands 14d ago
Also how does this legitimately not make door dash investors or potential investors question buying shares when the companyâs revenue is built on buy now pay later broke people! What could possibly go wrong?!
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u/anon5373147 14d ago
The Palm Beach Yacht Show is the biggest Iâve ever seen it. Gives the appearance that wealthy people are unloading big expensive boats.
Could also be that the ultra rich are looking to upgrade in anticipation of the tax cuts.
Hard to tell. But the number of big yachts for sale is puzzling.
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u/red_knight11 14d ago
I have a friend that works in that industry. All of the financial fear porn weâve seen for 12 years has done nothing but get my friend raise after raise after raise. The Great Depression 2.0 never happens, China never invades, world war 3 never happens, and thereâs always money to be spent and made.
When the news has doom and gloom, the ultra wealthy people invest in the markets. When the news has âthe markets are stronger than everâ they sell or hold.
If thereâs anything I learned, Reddit doesnât have a grasp on reality. Do and believe the opposite of what the MSM tells and youâll retire 15 years earlier than your colleagues
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u/Informal_Victory6134 14d ago
Stop this bullshit . Donât order from these apps your just hurting small businesses and eating cold food
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u/themangastand 14d ago
If you need to pay later eat now, you should be eating ramen not getting take out
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u/barcopirata 14d ago
Pedidos Ya (Doordash in Latin America) let's you order without paying and they'll charge you a week later with no fees or interest
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u/bleuofblue 14d ago
"All right, well, give me your fuckin' 16 cents that you got on you now. We'll put your fuckin' sandwich on layaway. There you go, keep it right up here for you, We'll put you on a program. Everyday you bring your six cents and at the end of the week you'll get your sandwich."
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u/newbrevity 14d ago
"Are you bad at managing money? Then surely you'll think this is a great idea."
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u/Shua_33 14d ago
Oh good. Food is now so expensive we have to finance it.
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u/Successful-Train-259 14d ago
McDonalds financial putting people in collections for defaulting on big mac loans is in the near future.
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u/conny1974 14d ago
Donât tell me, but Klara must be valued at 100 billion right? Amazing disruptive tech right there.
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u/hibikir_40k 14d ago
It's a product for the true degenerate gambler. By paying for your burrito in 4 easy installments, you can put your last $10 into some leveraged option play that will make you rich.
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u/Lonely-Truth-7088 14d ago
Every restaurant around me is packed every day of the week. A lot of this economy being bad is fake. Of course weâll see in a year.
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u/Successful-Train-259 14d ago
Real life poverty and what we imagine poverty as are two completely different things. You can be below the poverty line in this country and still have a TV, refrigerator, car, internet and a computer and phone, but just because our quality of life is better compared to it was in 1925 doesn't mean it's any less impoverish. Deep poverty is something entirely different, that's being on the street, owning nothing and living out of trash cans. You won't see those people eating in a pizza joint at any point during the week, you find them in the dumpster behind the pizza joint.
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u/Dangerous_Design6851 13d ago
Yeah, no shit people are spending, but that doesn't mean they have money. Debt is skyrocketing, and so are default rates. Just because you buy things using your credit card doesn't mean you have money to spend.
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u/wanderingartist 14d ago
Well thatâs the first. I hope people would understand that this is an interest trap.
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u/SKAPE_Admin 14d ago
Lost my job this week, going to be hard to find another one even with my great set of transferable skills and strong work ethic. Even experience isnât enough to get you in the door, seems like nobody is hiring at all.
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u/LNEneuro 14d ago
So we are putting our dinner on layaway now? YeahâŚseems totally normal for our âgreat economyâ. How I pray for atherosclerotic heart disease every day and Iâm an atheist.
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u/Training-Ad5127 14d ago
Is the plan here to bleed everyone you can completely dry and brace for the aftermath?
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u/Ombudsmanen 14d ago
Lol, here in Sweden we've had this for a few years, I could buy a pizza with a loan from Klarna and pay it in 14 days with no interest rate or get a 20% interest rate if i do not pay.
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u/Foreverett 14d ago
To be fair, we've been able to use Klarna on pizza or Thai delivery, etc, for years here in Sweden.
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u/freddie2ndplanet 14d ago
this isnât an economic indicator itâs an illustration of the laziness and ignorance of young consumers
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u/Particular-Sell1304 14d ago
Can you still use PayPal on door dash, because PayPal has been allowing this for a few years now.
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u/twuit 14d ago
Thatâs just dumb. yes you can do that. You also can pay directly after ordering or in a bulk at your set date. I always do 15th so my bank account doesnât get trashed with 10 payment entries every time I order.
The dumb part is that PayPal gives you the option to pay 30 days later since 1-2 years already. So why is there no clickbait headline back then?
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u/Uniko_nejo 14d ago
We already have that here. We pay every salary day. Welcome to the Philippines.
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u/Le_Steak142 14d ago
Well, capitalism needs unlimited growth. So what do you do when people dont have the money to facilitate that growth (e.g. do not spend?). Well, you just branch out to future money. Its just another measure to keep this broken system alive for a few more years/decades. But since we have arrived at a loan economy that goes down to basic necessities such as food, I am not so sure how long that will keep working.
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u/Tripartist1 14d ago
I get it, but i actually think this is kind of neat. Expensive places that I may have never tried can now be delivered and I dont have to burn a hole in my pocket instantly to do it.
Yes, Im broke. Let me make payments on my steak lol.
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u/oroliggam 14d ago
Weâve had klarna for our delivery services for Years in Sweden,
Back in the day when they hired customer support for Klarna at the Stockholm office, they took an example of a good customer, he had been buying pizzas for a long time and just kept doing it, he dident pay for the first year and since then heâs Only paid interest for the pizzas and never paying it off, lika an insane credit card debt just for pizzas
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u/ZenRiots 13d ago
I received an email from my landlord this week announcing that they were teaming up with Best Egg to provide rent credit accounts to everyone who wanted one.
The concept is as follows, for a monthly fee Best Egg will pay your rent and you will then pay them in weekly automatic payments.
If you fall behind on those payments your rent will accrue interest at the rate your credit report justifies.
Turning rent into a weekly credit account that accrues interest is a sure sign of economic collapse.
I cannot imagine what happens when you fall a little behind on that rent... Well I imagine that it will prevent an immediate eviction, I don't know how you could get out from underneath a rolling balance once you establish one.
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u/Gunfighter9 13d ago
"Jesus, Seth. Listen, if you really wanna do this with your life you have to believe you're necessary and you are. People wanna live like this in their cars and big fuckin' houses they can't even pay for, then you're necessary. The only reason that they all get to continue living like kings is cause we got our fingers on the scales in their favor. I take my hand off and then the whole world gets really fuckin' fair really fuckin' quickly and nobody actually wants that. They say they do but they don't. "
Will Emerson
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u/Unfair_Holiday_3549 13d ago
Credit card debt through the roof and now door dash credit will be through the roof.
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u/Successful-Train-259 14d ago
At this point it wouldn't even be wild to me if headlines in 2028 read "doordash economic crisis causes stock market to crash"