Thursday, Oct 11, 2007
Here comes the Credit Card Tsunami
Baltimore Sun: Credit card debt is ready to blow
The next bomb from this chain reaction of bailouts and blowups will be credit-card debt. Hardly anybody is talking about it yet, but banks and consumers are laying the ground for a wave of credit-card defaults, bankruptcies and asset write-offs for 2009 or so. This can end only one way. The only question is how bad it will be.
Posted by lvmreader @ 07:34 AM (320 views) Add Comment
1 Comment
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1. crash bandicoot said...
It must surely be the Zenith of financial stupidity to use your credit card to pay your mortgage bill. It is an indication of just how addicted to buy now, pay later society has become.