Monday, December 1, 2008

Like a crackhead in detox...

...Many Americans may soon be cut off from their addictions.

http://www.cnbc.com/id/27993643

It looks like the jig is up with consumer credit cards. Many predict that this bubble will be more severe than the housing bubble, and with good reason. Some are already stretched thin with current credit limits, while others rely on them to survive in an economy where jobs are few and far between. What will a nationwide credit limit decrease do to the economy? It's hard telling, but it isn't likely to be pretty.

Looks like the folks who found those Black Friday deals too irresistible may be regretting their purchases come January.

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