Do Not Finance Your DOORDASH

Chris slams Klarna’s DoorDash deal—installment plans for burritos? He calls it dumb, warning of late fees and debt traps. With credit rejection soaring and AOC pushing a 10% card rate cap, he predicts chaos. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Clara's for stupid people. I said it. I said it.
I'm sorry. No Mary puppins here, no spoonful of sugar
to make the medicine go down. Yeah. I have to
be brutally honest with people out there. If you're using
Clara to make installment payments, there's something wrong with your medulla.

(00:36):
Oblun gatta. Okay, you're spending money you don't have. You
can't afford it. And why am I bringing this up today?
I thought this was a parody. Okay, I thought this
was on the Babylon b Clara. Clara's now going to

(00:57):
allow us to just payment agency out of the others.
They're gonna go public soon on the New York Stock Exchange.
They are now going to Clarina. They're gonna allow door Dash.
Door Dash is going to be accepting payments through Clara,
So you're gonna be making installment payments on your delivered sushi. Burritos.

(01:22):
I got, I mean, I got. I love my listeners.
I got some great bits here and there, taking them
from the movie The Big Short, they're you know those scenes,
they're like, let me get this straight. You can buy
a burrito on an interest free installment plan. That's right
when we're not even based in the Chapolte store. So
you finance this by packaging the Burrito installment loans into

(01:45):
Burritos CDO A, which as part of Burrito Burrito's CDO
B and both get put in the Burrito CDO C
and the originally rowans are backed by Burritos. I can
go on and on and on. I mean, this is nuts.
Now they're saying this is interest free installment plans, but
you better make sure you make those payments because you're

(02:09):
gonna get whacked with late fees. Clarina charges three point
five percent three point five percent to merchants. I'm curious
here if they're going to factor this into if a
Klarina payment is going to be the same as a
regular if you're paying it then and there, So basically

(02:30):
you got people that are using door dash are going
to be subsidizing the people the interest free plans. It's
a myriad of different things that are going on, because
that's going to add to everyone's cost for food. But anyway,
neither here nor there, you use Clara, you are making
installment payments for your delivered food. I don't I really
don't know what to tell you people. This is the

(02:53):
world that we live in. Who's it Aristotle not will
suggest that some people are just natural slaves. Oh, I
know you can't say anything like that. Yeah, people just
like to be slaves. There's stuff and to debt. This
is from EJ. And Tony. This is the credit reality

(03:20):
right now in the country, less than two thirds of
people have access to two thousand dollars including credit to
pay unexpected bill in thirty days. Chance of credit application
rejection hits record high. Average rejection rate for refis on
mortgages has exploded from a year ago now nearly forty

(03:42):
two percent. Now, maybe some of these reefis, Maybe these
people should do with their lender that they already have
saying hey, listen, either you're going to refy this or
guess what, I might default because the banks don't want
these loans. But again, many of these banks and the
very various different service providers. They can't get out of
their own way because one doesn't talk to another. It's

(04:03):
a big fricking stink and mess, quite frankly, and forget
about it when you get Fan and Freddie involved, not
to mention the fact that, let's just be honest here,
you've got AOC and Anna Poulina Republican here out of Florida,
and there's others out there chiming in that we're going
to limit the credit card interest rate to ten percent.

(04:24):
They're going to cap that. Well, unless you've got really
good credit, I'm just telling you right now, you can
get your credit card again. Might be the best thing
for you. But people are going to be up in
arms and after if they get that through, and if
they push that through, you're going to hear all sorts
of calls from the left demanding demanding the credit card

(04:45):
companies give these credit cards out because it's racist, it's redlining.
You're not gonna be able to do that. They'll bring
back redlining for credit cards, mark my words. Don't doubt me.
I know these people, I know how they operate. But yeah,
great bit of advice here, you know, don't buy stuff

(05:05):
you can't afford it's just saying Karna oh I wouldn't
pay my burrito on a four monthly installment plan. Watch
dog on Wall Street dot Com