Aug 7 2009
The End of the Peak Credit Era: 3 Quarters of Contracting Consumer Debt. Credit Card debt Contracts on a Year over Year Basis for First Time Ever.
There is a small silver lining in the unemployment report released on Friday. The positive side was the amount of people being fired slowed down in July (if you can call an annual rate of 3 million layoffs positive). However, there is still a major reluctance for firms to hire. We still have 26,000,000 unemployed [...]
Jul 23 2009
Credit Card Companies Placing Financial Landmines for American Consumers: How I lost my 4.99 Percent Fixed Rate and got it Back.
Americans have a love affair with credit cards. Many Americans have more credit cards in their wallets than they do dollar bills. When 8,000,000 credit cards were yanked from circulation many consumers realized that this was a new era of austerity. Credit card debt otherwise known as revolving debt, peaked in September of 2008 at [...]
