Should Credit Card Debt be Illegal?
With all of the government intervention taking place in this financial meltdown, perhaps it’s time to start looking at making credit card debt illegal. It’s true that credit has played a huge role in the growth of our economy and economies around the world and it helps finance the gaps in everyday life for both families and business, but has the debt load gotten out of hand? It might not be a bad idea to put a government limit on the amount of debt, specifically credit card debt, that any one individual can access.
On any given day you can walk down to your mailbox and find a small rainforest of solicitation mail for Read More
Are Bank Failures Jackpots for Customers?
If you’re like the rest of the country, you’ve probably checked the newspaper, t.v., or favorite blog each day to see if your bank could be the next one to crumble. No doubt you’re concerned that your hard earned money in checking and savings might be at risk in case a permanent closed sign is hung in the teller window. However all isn’t doom and gloom, for some customers the news of a bank failure might bring a windfall jackpot.
Recently it was announced that one the nations largest banks has settled a lawsuit with a handful of state Read More
Financial Bailout isn’t Curing Volatility
It doesn’t appear that the record setting 700 billion dollar bailout is putting out the credit fear fires overseas. As of writing this article the markets in Asia aren’t taking the news well. The Nikkei 225 is currently down a little more then 3%. I don’t think the rest of the world has optimism that the US bailout is going to be a cure for a global economic slowdown.
It will be interesting to see how the Dow Jones Industrial Average looks to open in the morning. I’d have to believe that we will see a lower open on Wall Street come the Monday morning opening bell only a few short hours away. Friday proved a classic theory of buy the rumor and sell the news, when the markets did a nose dive directly after the bailout was approved by congress. It didn’t appear that those investing in the US markets have much faith in a short term cure for the credit crunch either.
Buckle up for a rock ride as it looks like the next couple of trading sessions are going to be a wild roller coaster!
Powered by Max Banner Ads
