We have been in a Depression since the crash of 2008. When I saw the rise in credit card usage over the last year or so combined with high unemployment and underemployment, and the massive loss in personal wealth Americans suffered since the 2008 collapse, I knew the usage was related to Americans turning to their credit cards to meet basic needs. What this means, in the big picture, is that the credit card companies are sitting on billions of dollars in accounts whose debts will never be repaid. I think that should be cause for alarm for the industry and those who invest in it.
Read the Article at HuffingtonPost
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