....we have the student loan debt, the credit card has returned (as the people in 2008, were re-issued credit again) and let's not forget about the automobile loans. Sub-prime loans galore people! they are EVERYWHERE
I could not agree more. What is the Fed going to do: lock up all the students with debt arrears as collateral, fill their parking lots with second-hand cars people cannot afford, pile high all the TV's on credit, worse still what about all the debt that has been taken out for paying for "coffee and cakes". I'd like to see what banks take as collateral for this stuff. Unsecured credit defaults will make the 2008 Crisis look like a kiddies tea party..!! Stephen
Good perspective, all those people buying $10 lattes on credit? really? And obviously the credit card companies and financial institutions issuing credit lines could care less.
NOTE: I have nothing against the coffee stores and franchises that sell these "pricey" drinks or the people that frequent the businesses... but when you are crying that you can't pay your electric bill, buy your medications or have fallen behind on a mortgage/car payment or minimum credit card monthly payment... all the while you are holding a styrofoam cup filled with Pumpkin Spice Double Up cream (or whatever) please don't complain to me.