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 […]

Nov 5 2009

If Incomes are Down, Where is the Economic Spending coming from? Industrial Production Still Lower, Credit Contraction, and Average Work Week at Record Low. Wells Fargo Considering Converting Option ARMs to Interest Only Loans.

With 8 million jobs lost in this great recession, it is rather surprising to see so many people enter into a deep capture mode of believing in a quick and efficient recovery.  If we look at data in the misery index, the average American has a hard time swallowing the jagged economic recovery pill.  They […]

Nov 2 2009

Bankruptcy Filings to Match Divorce Filings in 2009: 1.5 Million. 35.8 Million Americans on Food Stamps – 11 Percent of the Population. The 5 Indicators of the Misery Index.

It is a sobering fact that in 2009, there will be as many people filing for bankruptcy as those filing for a divorce.  We are on track to seeing an average of nearly 5,900 bankruptcy filings a day for 2009.  While some people use the stock market as their barometer of economic recovery, there are […]

Oct 22 2009

Credit Card Companies Evolving Revenue Streams: Penalty for Paying on Time, 79.9% Annual Fee, Rising Charge Offs. The New Credit Card Revenue Streams.

The love hate relationship with credit cards for many Americans is probably leaning more in the hate stage at the moment.  Americans have over $2 trillion in revolving debt – $1 trillion of that is plastic.  The average American has come to rely on credit cards as a form of supplemental income, like retirees come […]

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