Jun 30 2009

Credit Card Addicted Nation: How Americans have Pushed Themselves off the Fiscal Cliff. $931 Billion in Credit Card Debt Outstanding.

Credit cards were developed as a form of convenience and not another stream of household income.  The first major use in the United States started in the 1920s when it was used for the purposes of fueling the expanding auto owner population.  Bank of America created the BankAmericard in 1958 which later became the Visa […]

Jun 4 2009

Credit Card Debt Obsession: Americans Unwilling to Give up Plastic. Bankruptcies and the Credit Card Addiction.

The banking crisis with mortgages at the center, has taken much of the economic headline news over the past two years.  Yet there is a brewing problem in the credit card markets.  Credit card debt is now becoming another bubble itching to burst.  The meteoric rise in bankruptcies is simply a reflection that Americans have […]

Apr 19 2009

Credit Cards and Auto Loans: $2.5 Trillion Outstanding Consumer Debt. If you can’t find a Qualified Borrower or Buyer still lend the Money.

One of the many problems that led up to the economic crisis was easy access to debt.  This included easy access to home loans, auto loans, and credit cards.  You would have a hard time finding a reputable source that would argue otherwise.  Yet in the latest release of consumer credit data from the Federal […]

Apr 7 2009

Credit card companies shut down 8 million credit card accounts in February while accepting more Bailout Credit Cards from the U.S. Treasury. 400 Million Credit Card Accounts still open.

Many American households have been strapped for money for many years.  The benefit of having a debt bubble is the ability to cover up troubling economic trends and drown out any noise while people feed at the bubble.  During this time, credit was easily accessible and many families used credit cards as a bridge loan […]

Mar 28 2009

Saving Money is Bad for the Economy: Personal Savings Rate Higher, Consumption Slightly Up, Banks get new American Express, and Markets Begging for Money.

Last month the savings rate hit the 5 percent mark.  That makes two months over 4 percent and for the first time in a decade that Americans have actually saved more than 4 percent for two consecutive months.  Saved 4 percent of what?  Of their personal income.  You would think that most people would be […]

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