Mar 17 2010

The Anti-Savings Model – Offer 0.1% APY on Savings Accounts and Charge 15% on Credit Cards. A System Designed to Punish Savers and Encourage Extravagant Spending via Usury.

U.S. Banks have a solid incentive, dipped in gold, to keep people in a perpetual state of paying rent on debt while not saving a shiny penny.  In fact, their ideal state of financial equilibrium for Americans would be one in which people spent every single penny from their earnings reaching the end of the […]

Mar 11 2010

631 Million Credit Cards for 113 Million Households – Credit Card Excess Contracting for First Time in 40 Years. How Plastic Hid Middle Class Financial Decay.

It is estimated that in 2010 we will have 181 million Americans carrying credit cards.  Now this is interesting given that Census data from 2008 only shows 113 million households.  The credit card is ubiquitous flowing through our economy like a river of easy money.  Yet credit cards have become a major pitfall for many […]

Feb 16 2010

The Only Certain Bet in this Market is paying Down Debt. Credit Card Rates Rise as Other Interest Rates Drop. $866 Billion in Revolving Debt Still Remains.

The global economy remains on unstable footing as we see debt problems slam the European markets with Greece in the current spotlight.  Yet the problem of debt is not unique to Greece itself and it is fascinating that the world is only focusing on one country.  The average American over the past four decades has […]

Jan 19 2010

Credit Card Companies Pulling Back Credit Offers to American Households: Those Zero Percent Offers have now Turned into 30% Offers with Annual Fees. Banks have over $2 Trillion in Excess Reserves yet are unable to Offer a Decent Credit Card Rate.

Credit cards are ubiquitous like air in the American economy.  Virtually every American that can qualify for a credit card has one (or many) in their wallet.  Credit card companies have flooded the market with millions of plastic rectangles that have now come back to bite many American consumers.  If we rewind back to the […]

Dec 19 2009

Credit Card Debt up to 15 Percent of Annual Household Income. Average Credit Card Debt in 1980 was $670 and Today it is up to $7,800. The Slimy World of Credit Card Lending.

Credit card companies have made it their passion to ensure that every eligible American has access to a credit card.  They have also created a financial labyrinth with traps in every corner from tricky financial statements to interest rates that would make loan sharks blush.  The credit card has become some form of financial rite […]

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