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Us - Recovery Seen In Rising Use Of Credit Cards

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http://www.nytimes.com/2011/05/14/business/14card.html?_r=1&ref=business

Ever since the United States emerged from the recession, economists have been watching for signs that Americans are spending again.

This year, evidence is building that they are — with every swipe of their credit cards.

In the most recent quarter, covering January to March, American Express, MasterCard and Visa all reported increases in card spending. Business and consumer spending in the United States helped propel that growth, along with global growth and an increase in merchants that accept cards.

“The dust is slowly coming off credit cards,” said Gregory Daco, a senior economist with IHS Global Insight. “It is a general return of consumers to credit card usage, but it is a cautious one. Income is lower and slowly making a comeback right now.”

Or it's one last desperate attempt to stay afloat.

Still I'm sure it's the recovery.

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Increase in card spending to buy the same goods that were bought previously, now at a much higher price.

America pretends, just like the UK, that inflation is only a fraction of what it truly is.

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LOL!

Increase in debt seen as a cause for rejoicing! More debt to heap on top of the vast quantities of debt we already have. More money backed with F**k all. Yay!

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flipping heck, i still find it incredible that more debt is seen as a positive sign. How can global economics be seen in such a completely opposite way to personal economics?

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flipping heck, i still find it incredible that more debt is seen as a positive sign. How can global economics be seen in such a completely opposite way to personal economics?

...it's because all we can do is sell stuff, and to sell stuff others have to buy stuff, to do that they require credit......you know you want it. ;)

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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