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 […]

Mar 19 2009

The Ports of America: Long Beach and Los Angeles Ports see Massive Drops in Cargo. The Concrete Mouth of Consumerism.

The port of Los Angeles and Long Beach are the two busiest ports in the United States.  The port of Los Angeles is located in San Pedro Bay which is only a few miles away from the port of Long Beach.  Make no mistake, these two ports are incredibly busy ports that provide the spine […]

Mar 16 2009

The Long Depression of 1873: Parallels and Comparisons. Are we Missing Economic Information from an Important Piece of American Financial History?

There have been many comparisons to the Great Depression with our current economic crisis.  Massive speculation, rampant problems in the banking system, and exponential jumps in unemployment.  Yet we may have a lot to learn by looking at the former Great Depression known as the Long Depression.  The Long Depression lasted 65 months starting in […]

Feb 26 2009

American Consumers Cutting up that Final Credit Card: The End of a 30 Year Consumption Era and the Nervous Breakdown of the Spending Psychosis.

Imagine sitting in a messy room.  Chopped plastic all around you as you sit there clasping a set of red scissors.  Only one more credit card sits in the middle of the room starring back at you.  Can I do it you ask?  Is it possible to go forward in life with no credit cards?  […]

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