Tag Archives: tidal wave

South African Consumer Debt Spinning Out of Control. Half Of Work Force Can’t Pay Their Debts.

Last year I had the opportunity to visit South Africa and take a firsthand look at the consumer debt situation. There was no doubt even when I was there that there was going to be a huge explosion of consumer debt problems. New regulations passed recently give more control to debt counselors to go before [...]

Sears, Home Depot May Lose 8% of Holiday Sales on Credit Limits

Sears, Home Depot May Lose 8% of Holiday Sales on Credit Limits Bloomberg - 5 minutes ago Outstanding credit-card debt has risen 75 percent since 1999, while real wages have grown 4 percent in the same period, according to a report last month by …

Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas

Yesterday I wrote about a little old hardware store that had noticed an increase in card purchases over cash. That’s not a good sign if people are using plastic more for routine things and especially in this environment of credit card issuers reducing credit limits, raising interest rates and closing cards. You see, the credit [...]