The $915 Billion credit-card bomb in consumers' wallets...

crgarcia · Oct 30, 2007

You think the $900 billion in subprime meltdown is overwhelming?

Credit card debt is $915 billion and defaults are increasing:

http://money.cnn.com/2007/10/29/mag...debt.fortune/index.htm?postversion=2007103013

the gardner · Oct 30, 2007

AS GEROGE CARLIN WOULD SAY...........THE COUNTRY IS CTD......CIRLCLING THE DRAIN........AND THE RINGS ARE GETTING TIGHTER

stock_trad3r · Oct 30, 2007

Um or maybe not

credit card debt is bullish because it indicates consumer spending.

myminitrading · Oct 30, 2007

Quote from stock_trad3r:

Um or maybe not

credit card debt is bullish because it indicates consumer spending.

Dude, SHUT UP!

Comanche · Oct 30, 2007

Quote from stock_trad3r:

Um or maybe not

credit card debt is bullish because it indicates consumer spending.

Will you give me an update of your whole index, the holdings in it, not the prices you're in at. I know you expanded it from the original.

stock_trad3r · Oct 30, 2007

Full list of stocks as of the close of 10/24/07

http://elitetrader.com/vb/showthread.php?s=&postid=1653324#post1653324

acerbits · Oct 30, 2007

Quote from stock_trad3r:

Um or maybe not

credit card debt is bullish because it indicates consumer spending.

So spending on debt is good? care to back up that logic? Lend me what ever pennies you got so I can spend it, I promise ill pay you back a million times what you gave me in a couple millenniums.

Martin Gale · Oct 30, 2007

Debt is fine as long as it is put to productive use. In the case of consumer spending, that's debatable. Wages are stagnating while the cost of living increases (ignoring the bogus official inflation figures). Folks are going further into debt to maintain the same standard of living.

Quote from acerbits:

So spending on debt is good? care to back up that logic? Lend me what ever pennies you got so I can spend it, I promise ill pay you back a million times what you gave me in a couple millenniums.

cstfx · Oct 30, 2007

Quote from myminitrading:

Dude, SHUT UP!

Dude, put him on the ignore list.

And stop quoting him.

crgarcia · Oct 30, 2007

Quote from acerbits:

So spending on debt is good? care to back up that logic? Lend me what ever pennies you got so I can spend it, I promise ill pay you back a million times what you gave me in a couple millenniums.

Actually, this is the exact way the American economy works.