Credit Cards
Peter Schiff – Beware of the Upcoming Credit Card Crisis
For the latest Peter Schiff commentary, click here – http://PeterSchiffBlog.com
The same problems with the sub-prime mortgage market also afflict the credit card market. Americans have been able to acquire credit cards and huge amounts of credit with relatively lax lending standards. Why have credit card companies been so eager to dole out credit like this? Because they can repackage the debt and sell it to wall street.
We hear all the time that 2/3 of the American economy is based on consumer spending, but Peter Schiff knows that this is nonsense and unsustainable. Production must always precede consumption.
Many people rely on their credit cards for emergencies. Peter Schiff says that this is a terrible idea. They need to be saving money in case of emergencies, no keeping a credit card handy. Americans should save their money and stop going into debt. In the future, they may find it extremely difficult to get approved in the future.
Duration : 0:3:21
USA– Credit Card Nation
While compulsively shopping is not a mental disorder, the US has dozens of therapy groups and clinics for those willing to admit they are hooked on spending. Author Dr. Robert Manning says, “We have a decline in real income in America, we have had an expectation that credit isn’t an earned privilege but rather it is an entitlement of American society. “
Duration : 0:4:44
Credit-Card Companies Making Offers to Risky Customers
‘Master Your debt‘ author Jordan Goodman on credit-card companies efforts to get new customers.
Duration : 0:3:7
Credit-Card Companies Back to Bad Habits
FBN’s Gerri Willis argues companies are repeating old mistakes by giving too much credit to unworthy borrowers.
Duration : 0:2:2
Study: Baby Boomers in Piles of Debt
John Pottow, law professor at the University of Michigan, argues baby boomers’ debt doubled due to credit cards.
Duration : 0:3:44
Ashley Reid’s success story, accountant, Canmore, Alberta
Make Your Credit Card Work for You. FCAC updates its credit card publications to help consumers make informed choices.
Duration : 0:4:3
Paying Off Mounting Student Loans
Tips for paying down your student loans and credit cards to become debt free.
Duration : 0:4:9
Get Rid of Credit Cards With a Civil War Cannon
The north and south join forces to rid the country of credit cards.
Duration : 0:2:7
Using cash to chop up those Bowling for Financial Freedom
Getting rid of credit cards while having fun at the arcade.
Duration : 0:1:34
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