Credit card debt is next......$947 BILLION worth

Discussion in 'Trading' started by S2007S, Mar 9, 2008.

  1. S2007S


    They keep putting this figure aside as well, up 7.1% in the month of January to $947.4 billion.

    Total seasonally adjusted consumer debt increased by $6.9 billion, or a 3.3% annual rate, in January to $2.52 trillion. This is a faster pace than the 1.8% gain in debt last month.

    What will they blame this one on, the slowing of skyrocketing housing prices over the last 5 years or consumers who are only taught how consume instead of save for a rainy day.
  2. Our current problems will catch up to the credit card companies sooner or later. I would stay away from the Visa IPO.
  3. Entertain me on how it will catch up to them? I thought they make $$ on transaction fees. They don't have anything to do with the debt.

    The debt is the issue of its holders (banks, commercial paper owners). Thats who your target should be.

    Visa/mastercard even makes $$$ on debit card transactions. So if credit was pulled back, defaulted bankrupt people would still be able to be a source of Visa revenues by using their debit cards instead of credit cards.