{"id":43983,"date":"2022-08-09T19:31:26","date_gmt":"2022-08-10T00:31:26","guid":{"rendered":"https:\/\/prefblog.com\/?p=43983"},"modified":"2022-08-09T19:31:26","modified_gmt":"2022-08-10T00:31:26","slug":"august-9-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43983","title":{"rendered":"August 9, 2022"},"content":{"rendered":"

Well, it seems obvious … but nice to have it confirmed<\/a>!<\/p>\n

Why would you leave money in a checking or savings account while also carrying a credit card balance? Economists call this question the credit card debt puzzle. That\u2019s because simultaneously holding both liquid assets and credit card debt seemingly makes no sense if the interest rates paid on deposit accounts are substantially lower than the interest rates charged on unpaid credit card balances \u2014 which they always are. In late 2021, the average rate paid was 0.06%, and the average rate charged was 16.13%.<\/p>\n

And yet in 2019, according to a new Federal Reserve Bank of Boston working paper, 42% of the people surveyed carried \u2014 or \u201crevolved\u201d \u2014 credit card debt while maintaining some liquid assets, typically as a balance in their bank accounts. The paper was written by Boston Fed senior economist and policy advisor Joanna Stavins and Federal Reserve Bank of Atlanta payments risk expert Claire Greene.<\/p>\n

The authors look at why consumers make such a choice. As indicated by the paper\u2019s title, \u201cCredit Card Debt Puzzle: Liquid Assets to Pay Bills,\u201d Stavins and Greene show these \u201cborrower-savers\u201d left money in the bank to cover monthly bills and other necessary expenses including mortgage or rent. They find that more than 80% of borrower-savers\u2019 bills (by value) were paid using checks, online bill payments, and other out-of-bank-account payment instruments.<\/p>\n

\u201cEven those consumers who carry costly unpaid credit card debt must keep a substantial balance in liquid assets to pay their bills,\u201d the authors write. \u201cThus, the credit card puzzle is not a puzzle at all.\u201d<\/p><\/blockquote>\n

There’s also this<\/a>:<\/p>\n

We use the 1979 National Longitudinal Survey of Youth to revisit what is termed the credit card debt puzzle: why consumers simultaneously co-hold high-interest credit card debt and low-interest assets that could be used to pay down this debt. Relative to individuals with no credit card debt but positive liquid assets, borrower-savers have very different perceptions of future credit access risk and use credit cards for precautionary motives. Moreover, changing perceptions about credit access risk are essential for predicting transitions among the two groups. Preferences and the composition of financial portfolios also play a role in these transitions.<\/p><\/blockquote>\n

… and this<\/a>:<\/p>\n

This article investigates the credit card debt puzzle. Simultaneously holding credit card debt and liquid assets is puzzling given the sizeable difference between interest rates of debt and assets. However, this behavior is common\u2014about 31% of households in the 2016 Survey of Consumer Finances. The cost of co-holding may be justified if consumers anticipate future restrictions in credit or if they need to maintain liquidity. Other existing explanations for co-holding include impulsive spending and low financial literacy. This research reveals a new explanation for the credit card debt puzzle: consumers\u2019 overconfidence of their financial knowledge. Using a Coarsened Exact Matching method, we found that overconfident consumers were 20%-40% more likely to co-hold credit card debt and liquid assets.<\/p><\/blockquote>\n

… and probably a lot of other material as well!<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref\u2122 Preferred Indices
\nThese values reflect the December 2008 revision of the HIMIPref\u2122 Indices<\/strong>
\nValues are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
\nCurrent
\nYield
\n(at bid)<\/td>\n		Median
\nYTW<\/td>\n		Median
\nAverage
\nTrading
\nValue<\/td>\n		Median
\nMod Dur
\n(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.6166 %<\/td>\n2,456.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.6166 %<\/td>\n4,711.4<\/td>\n<\/tr>\n
Floater<\/td>\n6.44 %<\/td>\n6.52 %<\/td>\n54,864<\/td>\n13.11<\/td>\n2<\/td>\n-1.6166 %<\/td>\n2,715.2<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0850 %<\/td>\n3,475.6<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.89 %<\/td>\n5.82 %<\/td>\n39,228<\/td>\n3.08<\/td>\n8<\/td>\n0.0850 %<\/td>\n4,150.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0850 %<\/td>\n3,238.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.5719 %<\/td>\n2,862.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.95 %<\/td>\n6.11 %<\/td>\n72,696<\/td>\n13.76<\/td>\n35<\/td>\n-0.5719 %<\/td>\n3,121.8<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.72 %<\/td>\n5.85 %<\/td>\n115,238<\/td>\n14.02<\/td>\n59<\/td>\n0.0494 %<\/td>\n2,507.3<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.89 %<\/td>\n5.97 %<\/td>\n84,270<\/td>\n13.91<\/td>\n19<\/td>\n-0.5067 %<\/td>\n3,057.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n7.09 %<\/td>\n7.30 %<\/td>\n38,451<\/td>\n12.12<\/td>\n2<\/td>\n0.1879 %<\/td>\n2,596.5<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.10 %<\/td>\n4.64 %<\/td>\n116,223<\/td>\n1.87<\/td>\n6<\/td>\n0.0329 %<\/td>\n2,597.0<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0494 %<\/td>\n2,563.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.69 %<\/td>\n6.15 %<\/td>\n54,003<\/td>\n13.84<\/td>\n14<\/td>\n0.0365 %<\/td>\n2,599.8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n-9.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.01
\nEvaluated at bid price : 20.01
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\n-3.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 23.13
\nEvaluated at bid price : 23.55
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 12.76
\nEvaluated at bid price : 12.76
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 14.36
\nEvaluated at bid price : 14.36
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.38
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n-1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.45
\nEvaluated at bid price : 20.45
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.83
\nEvaluated at bid price : 22.20
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.43
\nEvaluated at bid price : 20.43
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.47
\nEvaluated at bid price : 21.47
\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 22.07
\nEvaluated at bid price : 22.30
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 22.55
\nEvaluated at bid price : 22.81
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 18.91
\nEvaluated at bid price : 18.91
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 12.80
\nEvaluated at bid price : 12.80
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
GWO.PR.S<\/td>\nInsurance Straight<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.66
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.79
\nEvaluated at bid price : 22.11
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.05
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 22.08
\nEvaluated at bid price : 22.36
\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 23.63
\nEvaluated at bid price : 23.90
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 7.62 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 23.11
\nEvaluated at bid price : 23.75
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.82
\nEvaluated at bid price : 19.82
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.80
\nEvaluated at bid price : 22.30
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.35
\nEvaluated at bid price : 19.35
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.18
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 13.84
\nEvaluated at bid price : 13.84
\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.61
\nEvaluated at bid price : 22.00
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset Disc<\/td>\n2.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Disc<\/td>\n3.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 19.99
\nEvaluated at bid price : 19.99
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
\nTraded<\/td>\n		Notes<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n158,963<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 7.47 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n105,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n75,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.30
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n71,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.66
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n62,723<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.01
\nEvaluated at bid price : 20.01
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n51,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 21.52
\nEvaluated at bid price : 21.89
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
There were 19 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 20.01 – 22.10
\nSpot Rate : 2.0900
\nAverage : 1.4628<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.01
\nEvaluated at bid price : 20.01
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n

PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.91 – 20.59
\nSpot Rate : 1.6800
\nAverage : 1.2626<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 18.91
\nEvaluated at bid price : 18.91
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n

BAM.PR.K<\/td>\nFloater<\/td>\nQuote: 12.76 – 14.40
\nSpot Rate : 1.6400
\nAverage : 1.3439<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 12.76
\nEvaluated at bid price : 12.76
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n

TRP.PR.E<\/td>\nFixedReset Disc<\/td>\nQuote: 17.15 – 18.10
\nSpot Rate : 0.9500
\nAverage : 0.6906<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 17.15
\nEvaluated at bid price : 17.15
\nBid-YTW : 7.30 %<\/td>\n<\/tr>\n

CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.30 – 21.83
\nSpot Rate : 1.5300
\nAverage : 1.3032<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 20.30
\nEvaluated at bid price : 20.30
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n

SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.77 – 18.50
\nSpot Rate : 0.7300
\nAverage : 0.5207<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-09
\nMaturity Price : 17.77
\nEvaluated at bid price : 17.77
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Well, it seems obvious … but nice to have it confirmed! Why would you leave money in a checking or savings account while also carrying a credit card balance? Economists call this question the credit …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-43983","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43983"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43983\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}