House of Cards | Clipmarks


	House of Cards

JICWyllie

6-30-2008 11:53 AM

272 views

tags:

economy, financial markets, i-credit, i-crisis, i-risks, consumers, i-debt, i-insolvancy

JICWyllie says:

It's always worse than you think.

1 Comment |

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6-30-2008 1:25 PM

allenmarkowski

I agree especially when we've been using money as a measurement of reality instead of energy. It's nice to hear from you again Jan. It looks like you were gone for about a month.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d32b095a-d155-4f86-8c89-e231e65f4f67/C723ECFB-5AE7-410D-8DC7-A406FB80917D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.informationclearinghouse.info/article20196.htm" href="http://www.informationclearinghouse.info/article20196.htm" style="font-size: 11px;">www.informationclearinghouse.info</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.informationclearinghouse.info/article20196.htm">Financial 
																	analysts say 
																	that in the 
																	U.S. alone 
																	more than 
																	$850 billion 
																	in unpaid 
																	credit card 
																	balances is 
																	at stake and 
																	fast 
																	approaching 
																	$1 trillion, 
																	roughly the 
																	same amount 
																	as in the 
																	subprime 
																	market.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.informationclearinghouse.info/article20196.htm">The unpaid 
																	debt portion 
																	of this is 
																	continuing 
																	to pile up, 
																	with U.S. 
																	consumers 
																	last year 
																	adding $68 
																	billion 
																	against 
																	their credit 
																	lines, 
																	boosting 
																	credit card 
																	debt by 7.8 
																	percent, the 
																	largest 
																	increase in 
																	seven years, 
																	just when 
																	the last 
																	recession 
																	was 
																	beginning.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.informationclearinghouse.info/article20196.htm">
																	While many 
																	eyes are 
																	focusing on 
																	the housing 
																	meltdown and 
																	its hugely 
																	negative 
																	effect on an 
																	economy 
																	clearly 
																	moving into 
																	recession, 
																	few are 
																	paying 
																	attention to 
																	the next 
																	bubble 
																	expected to 
																	burst: 
																	credit 
																	cards. 
																	Combined 
																	with the 
																	subprime 
																	losses, such 
																	a credit 
																	card 
																	nightmare 
																	has the 
																	potential, 
																	experts say, 
																	of bringing 
																	down the 
																	entire 
																	financial 
																	system and 
																	global 
																	economy. You 
																	and your 
																	credit card 
																	have become 
																	key players 
																	in the 
																	highly 
																	unstable 
																	financial 
																	crunch.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C723ECFB-5AE7-410D-8DC7-A406FB80917D/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>