Jan 20 2009
Bankrupt Consumer: Chapter 7 Bankruptcies up. Credit Card and Consumer Credit Crisis: Americans were Using Consumer Credit as a Lifeline and it is now drying Up Pushing Bankruptcies Upward. $2.5 Trillion in Loans at Risk.
Credit cards have been around for many years with Bank of America creating the BankAmericard in 1958, which eventually evolved into the modern day Visa system. MasterCard has been around since 1966 and received significant backing from Citibank. These names are familiar with the current credit crisis. Credit cards have been one component of the […]
Jan 17 2009
Saving Nation: You Know you Have a Fiscal Problem When Saving Money Actually Becomes a Detriment to the Health of our Economy.
In George Orwell’s dystopian 1984, doublethink was the ability for someone to hold two mutually contradictory beliefs, and accepting them both. We have now entered into the world when Americans actually saving money is bad for the health of our consumption economy. War is peace. Saving is spending. Our Ministry of Truth is the Federal […]