Credit-Card Law May Reduce U.S. Consumers' Purchasing Power by $90 Billion

[ByLoSellHi]

Ouch. That's not going to be good for business. That's not going to be good for anyone.

http://www.bloomberg.com/apps/news?pid=20603037&sid=aEklTM9IK6xo&refer=home

 

[clacy]

I think that in the long run reducing "risky borrower" credit is a good thing.

It may be a little painful for the country in the short term however.

 

[bkveen3]

Short term = lower GDP

Long term = more investment spending and good for long term growth

 

[Scataphagos]

"Law of the jungle" probably reduce it much more...

The only "growth" America is likely to see in the next 40 years is the "inflation/currency destruction/eat your seed corn" kind.

 

[S2007S]

SHORT V AND MA.

Should see them drop around 50% over the next 12-18 months.