RSS The Daily Climb-Daily Posting Of Relevant Content

RSS BeforeItsNews Feed

RSS The Economic Collapse

RSS Zero Hedge Feed

RSS Confounded Interest Feed

RSS The Pete Morin Blog Feed

RSS Evil of indifference Feed

RSS The Thinker Feed

RSS Modeled Behavior Feed

RSS Politics and Computers Feed

RSS BlackListedNews Feed

RSS CRISISBOOM Feed

RSS Franke Schein Survival Feed

RSS Homelessness In Savannah Feed

RSS Ye Olde Soapbox Feed

RSS The Daily Bail Feed

RSS Chaos Sweeps Away …. Feed

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 186 other followers

Archives

Cascade Failure


Cascade Failure

     We should have expected credit card interest rates to start on a trajectory for the ceiling. I certainly wrote enough over the last 20 months about the pitfalls of transacting with the loan sharks in the Federal Reserve system. We’ve been around this block, before.

Does anyone remember the fiasco of the late ’70s and early ’80s? Let’s refresh our memories. Crushing unemployment aggravated by inflation killed consumer confidence. The Prime Rate for short term loans to banks climbed to 23%. The debt load crushed the economy. The Savings and Loan institutional failures bled wealth out of the real estate market. Still, the bloodsuckers at the credit card issuers pillaged, without mercy.

For those who have short or fuzzy memories, you’re about to get an instant replay. Take notes, this time. At least you’ll remember that I told you so, again.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s