Credit card rates rise in past week
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#1 Apr 27, 2009
On Sunday, this newspaper reported the average credit card debt was $10,600. The new number topped $11,000 for the first quarter of 2009. This whole economic malaise is not due solely to the subprime mortgage loan, securitization and derivatives, but also to the iron-clad credit crush. Everyone is in debt up to the eyeball. As a result, no one is spending. There is no demand. No demand means companies and corporations fire workers. Fired workers don't spend. Seeing all of the fired workers ignite fear and a total lack of confidence. No one spends. The GDP enters negative terroritory again. No one spends, more layoffs. Only confidence in the market could save us.
#2 Apr 28, 2009
High intrest rates to the high risk,whats wrong with that.
Do you think any Bank is going to get robbed by Congress again.
This is there way of collecting from others what O'man and the Liberals in congress took from them.
Are people so nieve to think the O'mans cram downs are not going to be passed onto them.
You voted for CHANGE,now that's what you will have left,change.
Americans are so STUPID to think the banks will take the loss.
#4 Apr 28, 2009
And it's always someone elses fault.Once a low life always a low life and I Don't care how much O'man offers help to these liar loan mortgage bailouts,they will still fail to abide by the loan assistance guidelines.
The programs will fail and the responsible taxpayer will foot the bill.
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