Mar 17 2010
The Anti-Savings Model – Offer 0.1% APY on Savings Accounts and Charge 15% on Credit Cards. A System Designed to Punish Savers and Encourage Extravagant Spending via Usury.
U.S. Banks have a solid incentive, dipped in gold, to keep people in a perpetual state of paying rent on debt while not saving a shiny penny. In fact, their ideal state of financial equilibrium for Americans would be one in which people spent every single penny from their earnings reaching the end of the […]
Mar 11 2010
631 Million Credit Cards for 113 Million Households – Credit Card Excess Contracting for First Time in 40 Years. How Plastic Hid Middle Class Financial Decay.
It is estimated that in 2010 we will have 181 million Americans carrying credit cards. Now this is interesting given that Census data from 2008 only shows 113 million households. The credit card is ubiquitous flowing through our economy like a river of easy money. Yet credit cards have become a major pitfall for many […]