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> people willing to pile on hundreds of thousands in high APY debt like the US

That’s a pretty unfair characterization of CC borrowing in the US. I’m sure there are some instances of that but most people have either a minimal amount on CC or none at all.

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I would think it will vary greatly by location and status. I'm 34 and in a fairly low income area / states. The only people I know that aren't drowning in credit card debt are people that manage to be financially responsible enough to never get one at all.

I thought myself fairly responsible until the pandemic hit and now I'm nearly $18K in the hole on credit cards I'm crawling out from under slowly.

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