GOYS CRASH ECONOMY BY NOT HAVING DEBT, SAYS CNN

Spend your money , Goy.archive.is/xo6Tl

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>Americans are slashing their spending, hoarding cash and shrinking their credit card debt as they fear their jobs could disappear during the coronavirus pandemic.>US credit card debt suddenly reversed course in March and fell by the largest percentage in more than 30 years. At the same time, savings rates climbed to levels unseen since Ronald Reagan was in the White House.>The dramatic shifts in consumer behavior reflect the unprecedented turmoil in the US economy caused by the pandemic. Although caution is a logical response to that uncertainty, hunkering down also poses a risk to the recovery in an economy dominated by consumer spending. A so-called V-shaped recovery can't happen if consumers are sitting on the sidelines.>More than 33 million Americans have filed for initial unemployment claims since mid-March, and economists warn the jobs market won't return to pre-crisis levels for years.>"Consumers are very cautious," said Russell Price, chief economist at Ameriprise Financial. "We're right in the middle of the storm."

>The unemployment rate soared to 14.7% in April — the most severe unemployment crisis since the Great Depression — and Americans are bracing for more challenging times ahead. The perceived probability of losing one's job over the next 12 months soared to nearly 21% in April, according to a New York Federal Reserve survey released Monday. It was the second straight month of a record high for this metric in the survey, which the NY Fed launched in 2013.>Workers are also worried about how they'll land another job if they lose theirs. The perceived probability of finding a job in the next three months tumbled 6.1 percentage points to 47% in April, the largest monthly decline ever recorded. The survey described "considerable deteriorations" in household expectations, including record lows for expected earnings, income and spending growth.>"We know that Covid has not gone away," said Danielle DiMartino Booth, CEO and chief strategist at Quill Intelligence. "That is going to keep in place an element of uncertainty and fear and hold back consumers' ability or desire to spend.">Worried Americans are drastically scaling back their credit card debt, the most expensive form of typical borrowing. In March, revolving credit outstanding collapsed at an annual rate of 31%, according to a Federal Reserve report released last week. It was the largest one-month decline since January 1989. Part of that drop, economists say, is that banks have pulled back on credit lines as more people become unemployed.

>>257233247Its too late. Honk honk.

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Savings rate spiked to Reagan-era levelsCredit card borrowing and spending probably declined further in April. For example, Visa (V) reported that credit card payment volumes plunged 31% through April 28. Visa said the only category of US payments volume that is growing is food and drugstores, along with Walmart (WMT), Costco (COST) and Target (TGT). Spending on everything else was down in April. Visa has warned that payments volume in the "hardest-hit" categories of travel, fuel, restaurants and entertainment plunged by more than 50% in April. Travel spending collapsed by about 80% last month.>"The consumer that constitutes the beating heart of the real economy is preparing for a much longer slowdown than what policymakers are telling them," said Joe Brusuelas, chief economist at RSM, a consultancy. For now, Americans are building cash reserves to help them get through the storm. The savings rate in the United States climbed from 8% in February to 13.1% in March. That was the highest savings rate since November 1981. And given the disastrous economic news, the savings rate will likely go even higher when April statistics are released.>"When you have a depression-like shock, households will increase savings," said Brusuelas, who called the March spike in savings rate "insane."

>>257233660LA just extended stay at home orders for 3 MORE MONTHS.Honk honk indeed. At least the homeless that are put up in the luxury hotels free tax dollar paid drugs and alcohol will be comfy.

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>>257233247As a financial advisor that always pushes clients to be financially safe, secure, and pay off all debt rather than playing with all their money in the stock market. You’re welcome goys.

God I hope this is true. Burn it all down.

>>257234145Too big to fail user, they'd just get more bailouts.

>>257233247>CRASH ECONOMY BY NOT HAVING DEBT,Saving money s good go for individuals and bad for the country's economy.en.wikipedia.org/wiki/Paradox_of_thrift

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>>257233997>spending your savings on paying off low interest debt>not "playing with their money in their stock market", also known as investing in funds that have higher interest than most debtsyea thanks indeed schlomo, great advice

>>257233247this is just retard fear mongering. yeah I'm saving money because I'm not going anywhere. there is only so much I can spend money on when I'm not doing anything. I haven't spent a dime from the stimulus check or my last two paychecks. when things open up in my liberal shithole state, I'll definitely spend the money on useless shit. plus unemployment is paying more than actually working. so yeah extra income plus stimulus money. what else are you going to do?these people are idiots. when things open up again the burger obsession to buy useless shit isn't going to go away

not consuming is a threatprices dropping is a threatbasically anything that makes normal peoples life better is bad for the economy

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>>257233867based af, anything that collapses the system is good for natsoc

>>257233247I'm a cash hoarder, I simply don't go into debt.I will admit though, I use my Visa and mastercard for big purchases and pay them off before the 21 days so they don't charge me interest (I'm hard core by the sword Christian so no usury). doing that hurts the jew, they are forced to fork out the cash on my behalf and no make a fucking penny for doing it. I might, just might when they up my credit to $25,000 on each card spend it and take it out in cash and tell them to go fuck themselves though.A lady in the bank actually told me "you're not supposed to use your cards like that". LOL.Even before all this bullshit started I would invest in sure things only. I invested in toilet paper and tampons. Two sure things that pay minimal dividends but always pay. You can guess what happened when all this shit started, I got way to much money to know what to do with. I got gold bars and guns now, two other commodities that will go way up in value no matter what. I got them before the Gov here made them all illegal so the value instantly doubled.Fuck spending money, If I spend it will be on stuff I can use or eat. But ya the money just sits in the bank or the closet safe doing nothing. My grandchildren will be just as well off as my children if not better.

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>>257233247I've been saying this from the beginning. This is why those 30 million layoffs are mostly going to be permanent. People cut back on spending when they lose their jobs or are otherwise spooked by the economy. Businesses will lay off more workers and will not hire back because there won't be enough revenue from the lack of paying customers.Business shutdowns were the single worst public planning idea in modern history. This is the new Great Depression.

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>>257233867>LA just extended stay at home orders for 3 MORE MONTHS.Liberal state, they are doing exactly as the DNC is instructing them.

>>257234550> muh keynesianismpleb

>>257233247>Take TrumpBux>Take that $5k "loan" that's paid back in social security when you retire>Put it in Roth IRA>Withdraw a free $50k when I retireThanks, kikes.

>>257234550Instances of thought like this reminds how divorced from scarcity our thought on economics has become.Consumption in the eyes of this savings is bad for the economy crowd is viewed like an etheral good from the sky, not based on ever scarcer non renewable resources. Get a car payment, goy, but shame on you for polluting the air! Typical paradoxical nonesense of leftism >>257235315Well said, back in 1990 post soviet blocks, we were told that prices decreasing was a sign competition was working, now its called deflation, and we're supposed to act like its a bad thing for us.Its strangeness is so profound that it could only be tolerated if so abundant that it is rendered benign

>>257235856>Business shutdowns were the single worst public planning idea in modern history.I disagree. Allowing woke culture to hurt the bottom line and undermine good business practice is worse. This is the cure.

>>257233247debt-based economy dies when there is no debt to give. makes sense to me.

>>257236269Interesting.

>>257233247peak capitalism

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>>257233247No. I have no guarantee my job is coming back and I have kids I have to feed. I'm saving and investing small amounts into mutual funds. Now is not a good time to buy consumerist goods. I'd get a new car if my credit was good, but it isn't

>>257235856Could be easily fixed by kicking women out of the workforce and reporting illegals.

>>257237183I swear to God that we all did truly die in 2012 and this is hell. What an absolute clown world. How the fuck did things get like this?

>>257233247Every time I see shit like this I am honestly amazed at the state if your average person. Can you believe for most people debt is the rule, rather than the exception? It's ridiculous, why the fuck are you borrowing money you don't have instead of saving? The vast majority isn't even good debt, to be spent on a real asset, it's a $1200 phone or the third brand new car in 5 years.Why the fuck do people borrow money for such asinine garbage? My personal debt is zero, I have a Credit Card, purely for the sake of having a credit history, I have two cars and a house and borrowed nothing to buy them.Why the FUCK do all these daffy cunts keep borrowing money?

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>>257237522>How the fuck did things get like this?pic related

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>>257237522the road to hell is paved with good intentions.

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>>257237753Well personally I put myself through college without taking student loans. My expenses increased during my senior year and I supplemented it with credit cards. I graduated with 8k in credit card debt and since that shit is insidious, I'm still 4.5k in debt right now despite making good money.

youtube.com/watch?v=iFDe5kUUyT0Mandatory Maloneypill

>>257238004What does private ownership of land, resources, and production with the ability to invest in others or in turn be invested in have to do with any of this? Furthermore, what does it have to do with a powerful central government influenced by oligarch kikes to attack their enemy?

$0.00 debt. Bank 10k to savings and 6k to low risk 401k per year on 50k income. On track to make that 15k savings and 8k to 401k this year. Fuck off kikes.

>>257235845>credit card companies don't make a penny off meFalse. They charge the retailer like 25 cents + 3% of the total transaction. They still make money from the credit transaction business, they just aren't making any interest income off you.

>>257233247just in time for nirpcongrats, you played yourself

>>257233247You must consume incessantly or else you will not be desperate enough to work 60 hours a week competing with 3rd world immigrant labor.

>>257234550Keynesian non sense.

>>257238539found the golem

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>>257239217This this this.You have to spend all your money and go into debt so that you still have to show up on monday ready to put in another 60 hour week.

>>257233247This corona virus has unironically made people hate their government, appreciate nature, and wise up to finances. Is it /our virus/?

>>257239048bye-bye reserve currency status.

>>257233867Sickening

>>257238675i work for the jew in payment processing, after discount rates and interchange, its roughly 3-5% gross processing volumn in fees.

Maybe, just MAYBE, if the cost of living (house, fuel, food, electricity, taxes,etc) wasn't so fucking high we could afford to CONSOOOOOOOOOOOM

>>257239627Left wing is enjoy now suffer laterRight wing is suffer now enjoy laterWhen shit get's real, all that infinite genders stuff goes out the window

>>257237183WHAT THE FUCK IS THIS?ARE THEY TAKING TAKE OUT ORDERS?>>257237522checkedyou're probably correct

>>257233247Thank you for archiving the link, user. You're a good cunt.

>>257233247>Economy crashes>People are better off for itReally speaks to how pervasive the rot in the economy is

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>>257241539Digital coin clipping. No wonder (((they))) want everyone to have a credit card.

>>257233247>HOARDING CASH

It's funny, when I got my Trump bux and just deposited it into my bank account I knew some Jewish economists would call me "problematic."

I buy almost everything with a credit card for 2% cash back, but I pay it off several times per month. Does the Jew hate me?

>>257237183Wagie Wagie

>>257242441Agree with this quite strongly. When times are hard people stick with what they know works, conservatism. When times are good like they have been for the better part of 100 years, then people begin to use that safety to experiment with progressive and left wing ideas.But the moment the hard times hit, like a virus or recession or whatever it is, I think we'll see all the bickering about xie and zer disappear real fast and people will return to normality. So unironically it might actually be /ourvirus/As for the OP, I honestly don't see anything wrong with what is quoted there. It's just a fact that huge swaths of our economy right now are for luxury items and as spending tightens those sectors take a big hit. I don't care about the lenders they can all go broke, but the impact on anyone who has a job that's not part of key infrastructure means their businesses and therefore the jobs could go bye bye. A bit of balance is key, don't take out too much debt (you should NEVER have debt for spending, only to aid investment) but also no need to horde cash either, especially pointless with low interest rates and high inflation as it's just going to devalue anyway.

>>257243141Its complete jewish usury. It is literally digital coin clipping, yes. Its valuable to see that cog within the system, I technically keep it functioning, but i go out of my way to help the small business merchants as much as I can.

Don't hoard money, put it in (((investments))) or spend it, terrorist scum

>>257233247nonononononononononononono

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I swear if you told a Jew you had a nickel they'd take a quarter.

>>257243587>keeping pay down>goodpick one.

>Savings bad!Also by the same author >Most americans are living paycheck to paycheck with no savings and that's why we need socialism

>>257237522>How the fuck did things get like this?Airline tickets got cheap enough that subhuman third worlders could now afford to go on holidays overseas. They brought their sickness and diseases with them and now our lives have come to a standstill.

>>257234787you are not going to regularly get 22-29% in the market. Hell even my good credit card is 12%. Pay off your debt you fiscally illiterate nord.

>>257233247>OMG WHY AREN'T MILLENIALS BUYING HOUSES>Millenials are finally getting to the point where they see the flaws of debt and are saving up for houses.>WTF GOYIM TAKE DEBT!My wife and I both used our stimulus to pay down our credit cards, I should have my credit cards done by the end of the month, she will by the end of june/early july.Fuck kikes, and fuck debt based slavery.

>>257245767You should've never taken one. I understand you're married, though, and maybe had harder circumstances than me, a single guy.

>>257237183lmaooooooooooooooo

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>>257233247>close everythingWHY ARENT YOU BUYING STUFF?

>>257233247>Can't go shopping, traveling or to a restaurant>WHY ARENT YOU SPENDING MONEY?!?

>>257233247people are "saving" money because they not allowed to spend it on anything. jumping jesus on a pogo stick! open shit the fuck up and everything will go back to normal. FUCK!

>>257248414"normal" was not a good thing. I don't want people to go back to that.

>>257235845look up credit utilizationone day if you want to buy a house with debt you will need a better credit score

>>257248025Haha mein negerMust have been a glitch in the matrix

>>257243231I have like 4 non interest purchases totalling $2000 just sitting there that i will pay off the day before it's due. i even got them extended another 3 months due to "cornavirus hardships" even though i have a well paying job. The jews must be seething

>>257248628True that, user.

>>257239217Fucking this on so many levels. Best part of when I'm debt free, I'm working for me and my wife and that's it.I don't need to kill myself on OT, I can call off when I need a day off and not stress. I can't fucking wait man.

>>257233247HAHAHAHA at the end those minimalist faggots of the Makers Movement did end up crashing the economyYou did it!!You beautifull bastards your lack of coonsuming actually did it!

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Remember the Democrats and GOP are both pro bankers, pro Zionism, and pro usury. They are the same when it comes to serving the real leaders of this country.

>>257239627Goddamn right it is. This is the great restoration of our society.

>>257234550>debt good >saving money badlol we deserve the financial hell that awaits us

>>257249079what do you think of anti-zionist jews?

>>257233247Since this faggot lockdown began, 2 of my 5 longstanding credit card accounts were closed. I never keep a balance, but I had myself up to $120k in unsecured credit limit figuring it is something if shit hits the fan. Now down to $70k. Wonder how much of this is the faggot banks just closing accounts.

>>257233247>oy vey, goyin... you can't just save money, you have to give it all to the (((Chosens))) corperations!

>>257235856All manufactured intentionally under the guise of a novel flu because orange man bad. Fuck these humans responsible. So. Hard.

>>257237753Lets just say you are fucking stupid. It all makes sense once you imagine that scenario

>>257248747there are free tools for that and just do what the tool tells youif you have some sort of larger purchase, use the zero credit cost options, just to make the system happy

>>257237753>borrowed nothing to buy a houseEither born with a silver spoon in your mouth or you lived at home for 10 years saving money.

>>257250150Faggot zoomers LARPing homeowner again.

>>257235856>why those 30 million layoffs are mostly going to be permanent.as long you get more money by cashing in the Trump bux, all is finethe shit will hit the fan when people realize that spending $7 for a salad you can make yourself in the morning for 1,5$ is a viable optionconstruction and utilities still have lots of open jobs

>>2572501503rd option: shitty housetons of places in the US where you can find a home that can be legally occupied for under $15k.

>>257250150>or you lived at home for 10 years saving money.I'll acknowledge few are willing to do this, but why are you pretending it's beyond the pale?

>>257249370They're fine. My main issue isn't necessarily with Jews from ethnic or religious reasons but moreso with the particular powerful Jews in certain industries who support causes I don't care much for. I suppose a lot of it is unrestrained capitalism in general.

>>257235845based as fuckI hope all my kids grow up to be as based

It's gonna be sexy af if I can pay off my student loans before going back to work with unemployment stimulus. ngl >Also had over 5k in savings before this and haven't had to touch any of it.If this lasts until September I can have my Student Loans and Car paid off. The longer the economy is fucked and I'm out of work the better.

>>257233247>MFW I have my largest savings ever and haven't had credit card debt in about a decadeSorry, kikes.

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>>257233247>>257233386>>257233529>>257233660Make sure to take your money out and put it into gold and silver.50% of my unemployment checks have been going to buy precious metals.

>>25725050715k. with low nigger density?

>>257233247Consumer is a euphemism for goy

>>257237481Absolutely based and redpilled

>>257235856If we can atleast generate enough hate towards China to kick chinks out of our countries, it will be worth it.

>>257236269>implying that massive dump of helicopter cash and future fiscal policy schemes won't inflate the dollar to meaningless levels by the time you collect that much interest

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>>257233247I have 4k left on my auto loan and that is my only debt. I do use my CC for everyday purchases but I pay that off every single day.I've never understood being a walmartian consumer who goes out and impulse buys dumb shit like giant televisions (or expensive smart phones)

>>257238021>the road to hell is paved with good intentionsThe Jew never has good intentions. They will always fuck with us until they are put in their place.

>>257233247To an extend they're right. If nobody is spending money, no businesses get the economic throughput needed to survive.But at the same time, if everybody is spending money, most if it is going to end up outside the united states anyway. The jews running your country have made sure of that.the credit card debt one is retarded. private debt is not required for a functional economy.

>>257243390>So unironically it might actually be /ourvirus/Yes. Isn't that funny? What the Jew engineers often has the opposite effect of what is intended.

>>257251625Lol same . Not sure why so many retards take on so much debt for so many pointless things.

>>257250781Mate, they all support the tribe. The 'good' Jew just fucks you slower.

>>257253041I got myself in trouble after college in 2010 because finding a job was difficult. Even though it was only $800, everything was so fucking low paying it was hard to knock that out.

>>257237522I’m inclined to agree.

>>257253655I was certain something was fucked when a Pope abdicated for the first time in 700 years.

>>257253294I'm just lucky here because my job probably won't go away for at least several decades. Our demand went up 30% because of this virus.

>>257235644Based

>>257235951Shut the fuck up democracy isnt real.

>>257237522>>257253655>>257253755Yeah now I’m pretty sure we’re dead.

>>257249723Democracy isnt real and trump is controlled by the same kikes as everyone else in Washington.

>>257233247so the entire economy is actually a bluff and is only sustainable through an ever increasing number of phony "I owe u's" and the actual amount of money we have is far less than the real amount of money in our society but nobody can audit it to call us out on our bullshit because we just keep throwing more imaginary assets into the mix in the form of interest on newly acquired debt?

>>257233247kikes have hated cash sense they accepted American express

>>257255436i need interest on your slavery bad goyims

Save you money so that you can be your children's lender rather than an interest hungry jew. Heck, if you can afford it, don't even lend, just give them what they need

How do I circumvent all this jewry? I don't have enough resources to escape yet, but I want out.

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>>257254028Also based

>>257233247No American should EVER have credit card debt. Car loan, house loan, business loans, school loans, that's it.

>>257257543You should never have a car loan, unless you're using the vehicle to earn income. Even then it's kind of stupid. I've never taken out a car loan. Always bought cash. Never new. No loan means no full insurance requirements. You not only save the interest fees and monthly payments, you don't give an extra $1,000 per year to some faggot TV gecko. Only have $700 in your bank account? Buy a 20 year old piece of shit. Learn how to work on it. Don't give the bank interest on a rapidly depreciating asset.

>>257238675Lmao. I actually learned something useful on this shithole site since 2015

>>257236417consumerism and leftism isn't the same thing you retard

>>257257973Hope you don't tell dealers that until you solidify your deal. They make their real money on interest payments and associated fees. If they know you are paying cash expect to be screwed when you are negotiating the price of the car because they have no incentive to haggle. Act like you plan to take on a car payment until the very end.

>>257257973This. I buy cars from neighbors and family and coworkers. Have an old tj wrangler, got it for 4k, paid half in cash to the neighbor and then gave him 500 a month. We put 2k on the bill of sale and everyone saved money that way. If you know people they will often let you make a few payments if they trust you. High trust means no banks or usury needed. That's why the Jews divide and spread disagreements.

>>257256364You're not gonna like what I'm gonna say, but suicide seems to be most effective way to stick it to (((them)))There probably are better ways that don't involve death, but they likely cost much more effort.

>>257258442Not so fast, memeflag faggot. The Jacobin disagrees.. They directly link criticism of hyperconsumption as anti-working class. you love to see it.jacobinmag.com/2020/05/planet-of-the-humans-michael-moore-documentary-climate-change

>>257237753And the worst part is society punishes you for not being a debt slave. You want an education, a house? Better take out loans, goy.It's a pyramid scheme - the only reason to get a 4 year degree anymore is because everyone else has one and you aren't competitive if you dont. Can't just take an IQ test either since that's "discriminatory". Must have your good goy certificate.

>>257258700Absolutely. The Free Market® tells you to leave your friends and family for College Brand™ then go to some piss drenched urban shitscape apartment for $3,500/mo for your corporate cubicle gibs where you can live a lonely life full punctuated by overpriced nightclub degeneracy and gay cultural activities. Wife and I lived for years in our 20s rent free because friends had 2 houses on one lot and would rather have someone who could watch their kids and hang next door than some degenerate paying rent. In return I kept the place up, paid all the utilities, bought new appliances and a new furnace, did some drywall and reshingling. Their house came out better than new when we left. We didn't waste money on rent. High trust and minimal debt is the only way off of the kikepitalist treadmill. I do have a mortgage now. But bought the house off another friend. They sold it to us for $30k under the appraisal, because no real estate agent or other faggot middle-men. No showing. I did all the paperwork. Instant $30k equity. High trust. But you can't be a shitbird. You have to work. At least you're working to make your life and the lives of your friends and family better instead of pissing your money away to a Manhattan sky rise.

>>257235644Just ditch the Swastika flag and Jews, say muh Constitution and things will work out well for ya.

>>257233247Doesn't matter. Goys will continue to make money for the rich, so. Don't even worry about it guy / goy.

>>257259507Bingo.

>>257237183WAGIE WAGIE GET IN CAGIE

>>257237183and you just know the money men behind that chain don't even give a shit if people die, they just want people to think they do.America in a nutshell. Everybody is a liar and deceiver.

>>257237183Only my fellow fat fuck burgers could need to shove fried shit into their faces so bad that they'd go to a drive-thru and sit in these fucked up lines with box bubble wage slaves rather than cook their own fucking food like human beings.

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>>257233247you do know that the entire economic recovery following the energy crisis was due to the radical extension of consumer credit, right?

>>257233247Congratulations Burgers. Finally.

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>>257259570Wise advice user

>>257260574Sounds like a fake recovery then

>>257250351you need to get out more if you think people don't actually know that they could make the salad cheaper themselves

>>257250507what are the back taxes like

>>257233247Technically the article is correct. We have a debt based economy and if everyone shrinks their debt, the economy shrinks with it. It's a retarded system that can only survive by ever increasing amounts of debt and I hope to see it collapse in my lifetime.

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>>257233247The greatest weapon that can be wielded against the (((elite))) is simply stop consuming their garbage. Dont eat their garbage food, buy their garbage products, consume their garbage media and entertainment.

>>257257973a 20-year old piece of shit is putting you well into the computerized component era, i.e. cars with DRM

>>257233247>basing your economy on imaginary debt acquired by people long dead to other people also long dead

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>>257259570>AY YO HERE'S SOME REAL TALK>my wife and i got free lodging for many years thanks to our friends>YOU GOTTA PULL YOURSELF UP BY YOUR BOOTSTRAPS

>>257260678indeed

Evil is making its final move right now as its time is short.

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>>257261006Yeah, but you can still get them to go. I bought a shitty little '97 civic for the wife maybe 6 years ago for $825 I bought it and registered it. The exhaust has since rotted off, along with the heat shields behind the rotors, and I had to replace the O2 sensor. Otherwise, basic maintenance. It will get harder in 10 years or so, I imagine.

>>257236417>>257236010>>257239458>>257249216Agree. People honestly consooom too much on averageI mean, GDP isn't really based on anything meaningful. We could all clean each other's house, get paid ten bucks and the national income would skyrocket. But what was really done in the end?Local businesses will suffer, like that cool European market down the street or Bob's Barrel's Gun Shop unless they have good liquid reserves. That's probably where my sympathy liesBut for the stagnant shitty corporations and a good chunk of government, I hope that this is a wake up call to them. If they do under, oh well!

>>257261199Fuck bootstraps. Fuck The Market. Make friends. Build trust. Help each other. Keep shit off the books where possible. Don't fall into the trap.

>>257256364If you wanted to, one could imagine you could start fraudulently carding. The banks have to pay for fraud purchases, consumers may be inconvenienced when they try to swipe their card and get declined, but a five minute phone call to their bank will see the charges reversed and the bank eats the cost. The only time the merchant eats the charge back is in the case of service not provided as advertised, etc.