Credit card debt is next......$915 BILLION worth

Discussion in 'Trading' started by S2007S, Nov 2, 2007.

  1. S2007S


    I know many dont want to agree with this or even bother to acknowlege it, but the truth is credit card debt is at record highs. This is going to be as big or even bigger than the subprime meltdown. There is a record $915 Billion worth of credit card debt here in the US. Many will continue to ignore it until it gets to the point where it can no longer be ignored.

    Just like other asset backed securities, credit card debt is sold off as packages of the question is what happens when there is a rise in delinquencies????

    The banks feel it along with the securities backed by the credit card receivables. As consumers default on their payments this would lead to bank losses and portfolio losses in the institutions, pensions and those big hedge funds.

    This is the next major economic problem that should be mentioned but is being completely ignored. Those 1500 SQ foot Piggy banks arent providing for the economy anymore, so what else better to use then the worthless dollar, plastic..............
  2. there will be lots of jobs popping up at collection agencies
  3. Just short MA, good for a quick 100% gain.
  4. Don't worry, the Fed will print $916B and everyone will be fine.
  5. Credit card debt is actually bullish because it indicates lots of consumer spending.
  6. ohhhhh..... you idiot ,bullish aaa???yes people using credit cards because they don't have enough money you stupid fuck
  7. Um actually wages are rising. Credit cards allow consumers to spend more by using credit. It's not that they dont have as much money.
  8. Bowgett


    Credit card debt is much better understood and it is not secured unlike subprime which looks like secured when it is not with falling home prices and 100% LTV.
  9. are wages rising faster than inflation? oh yeah, I forgot there is no inflation.
  10. Inflation may even be negative next quarter. GDP is going through the roof! There is no recession now or in the near term.
    #10     Nov 4, 2007