Apr 1 2010

Credit Cards the Opiate of the American Middle Class – The Withdrawal is in And the Wall Street Dealers are Raking in Trillions of Dollars. 2 Credit Cards for Every Man, Woman, and Child in the U.S.

If you want to know how reliant the middle class has become on credit cards all you need to know is that in circulation we have 631 million credit cards in the U.S.  For a nation with slightly above 300 million people this is roughly 2 credit cards for each man, woman, and child.  Credit […]

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 […]

Nov 27 2009

Credit Card Monopoly: Top 5 Issuers Hold $550 Billion in Credit Card Debt Taking up over 60 Percent of the Entire Credit Card Market.

As Americans rush out to shopping centers around the country on Black Friday many retail outlets have their fingers crossed that consumers will spend money that is clearly not on their balance sheet.  The average American is maxed out.  In fact, the typical American family has been subsidizing a decade of stagnant wages with credit […]

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