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That's just ridiculous. Credit card limits exceeding 60,000 who makes $24,000/yr. Who in the right mind would over-extend themselves like that. You deserve to get screwed under those conditions.

In order for a credit card meltdown to occur, the Depression must have already occurred or coming to fruitation. As long as people have jobs, they will be able to pay off credit card debt. I don't see the Credit Card default happen before any kind of Depression symptoms. I think the media...

I agree. Yeah London is pretty badass. The Brits invented the f*cking Stock Exchange system for christ sake. The Brits were the market makers for Gold which pretty much means they "owned" and supported all fiscal currency system indirectly. If you talk about "the action" then its...

I wouldn't be so certain. Usually the "head" of the financial world lies in the country with the biggest economy. It was London 2 centuries ago. NY 100 years ago - to present. Maybe Shanghai in the new coming century? New York will always be a powerhouse but they might play London's...

Call me crazy but I don't see Oil staying down at these low prices. There is always peak oil looming, sure there is less export but China and India will continue to grow and massive amounts of oil will still be needed. Supply and Demand. I think the recession is priced into oil to hedge the...

The Asian countries are strongly considering putting together an Asian version of the IMF. http://www.ft.com/cms/s/0/8010911c-a164-11dd-82fd-000077b07658.html This is quite an impressive initiative. Quite a bold move considering the global state of affairs. Of course, Washington is...

Are you kidding me, NAFTA is more of a brain drain from Canada to the US. From a general standpoint, the US has more financial opportunities and they paid their employees well with a stronger currency. The best and the brightest left Canada and went to the States. That's hardly "shipping"...