Jubak’s Journal: Why is credit-card use up?
description: The economy’s growing 1% annually but credit card use is up 10%. Jim Jubak says the increase is due to consumers using plastic to pay for everything from gasoline to food.
Tags
04/30/08
04/30/08
American Express
American Express
AXP
AXP
credit card
credit card
financial services
financial services
investing
investing
Jim Jubak
Jim Jubak
Jubak’s Journal
Jubak’s Journal
jubak's
jubak's
MA
MA
Master Card
Master Card
msn money
msn money
simple strategies
simple strategies
Warren Buffett
Warren Buffett
Why is credit-card use up?
Why is credit-card use up?
Comments
It is good to finally see an analyst finally begin to realize the plight of the average family in this country. In order for the average american family to keep up with rising costs without increased wages it first burned the equity in the home and now it is filling the credit cards. What is scary is what happens to our economy when the credit cards are full. When that happens consumer spending will drop sharply and gdp will begin to fall sharply. Credit card companies and financial institutions will begin to fail and this country will move rapidly through a recession to a depression. The only way to combat this is to restore the balance between the aristocratic rich and the average person which has become terribly slanted toward the rich. -
RenewedClock
buy visa, buy mastercard. sit back and when earnings hit...you will be impressed with $t loads of cash...we do cc sales at our business....those transaction fees are racking up! 4 mos ago, we did 60k. recently, weve doubled our cc sales to 120k....HELLO ! -
18004mytaxi
get a new suit. its ok to wear the same clothes everyday when your on the radio, or print media. get your head out of the toilet and smell the roses someday.things aren't as bleak as you insist. -
positive4orce
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