IN DEBT WE TRUST AS THE ECONOMY GOES BUST:
A Return To Serfdom?
Carolyn Baker
This week the Senate Banking Committee has begun an investigation of credit card companies and that industry’s lending practices of which Chairman, Carl Levin of Michigan said, “Millions of families…are kept in debt and are in over their heads not just because of their own purchases…but because of the abusive practices and excesses of the credit card companies.”
Our ever present Corporate Government is operating on credit and has put this country in debt. A national debt that is beyond my comprehension. Billions of dollars are hard to swallow, but when it comes to trillions I kind of go into a mind lock. What is our money really worth today, as we ignorantly carry worthless change in our pockets. Coinage that was once spending money is merely extra baggage to us, as a dollar is worth less than a dime of 1960's money, and we haven't seen nothing yet, as we descend into the depths of further inflation, and wonder what we will have to cut from our personal budget, as we continue to make payments on our house, car, and credit cards.
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yes,
ReplyDeleteI geoff Hodson, totally agree.
credit cards are bad, unnnnkaaay.
thanks for keeping us up to date on this stuff!
red e 4 sc?
Cheers
20K credit card debt for a graduating college student, 30K average family debt.........people have to cut them up........and how does a kid in college get credit cards? Credit card companies are the worst slime giving credit cards to i.e. college students who they know do not have an income and the job market is poor and starting salaries are poor and they have student loan debt......Also I heard that a lot of college graduates are living at home with Mom and Dad until they are close to 30...sad
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