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RE: [RT] Credit Cards



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Yes, I agree....and this all supports my post on the "ultimate sell signal for America".....
 


From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of BobsKC
Sent: Sunday, February 24, 2008 7:52 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Credit Cards

The latest scam being brought down on us is the ethanol nonsense which has raised food prices and will continue to do so until someone steps up and explains that ethanol costs more to produce than fossil fuel and it pollutes worse than gasoline.  We need to begin building nuke plants again and do so without regard to who wants what in their backyard.  Next, we need to figure out what we're going to do with the waste.  (I suggest an island in the Bering Sea).  Then, we need to put some serious money into hydrogen fuel cell development and add as much solar and wind power as is reasonably possible.    Farmers may be getting rich off ethanol but most of us are just paying for a political game when we shop at the grocery store.  Worse, the game is destined to fail and fail at our expense.  Surprise!

Bob

At 06:57 PM 2/24/2008, you wrote:

Here are some interesting facts from today's paper.  With the mortgage default rate rising there are more and more people living off of their credit cards.  I can imagine, I just paid $4.85 for a loaf of bread that was less than $2,00 a year ago. 
 
Total credit card debt in the U.S. is $943 billion
The number of credit cards is 1.2 billion
The number of credit cards per person is 7
The Average debt per household is $9,840
The annual debt service cost per household is $1500
Only 7% or the households have no credit cards
Only 32% pay their bill monthly
8% of the card holders owe more than $25,000
The U.S; Savings rate is 0.5%
 
Not a really good picture for a consumer driven economy.
Ira
www.delta100.com

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