usnews.com — For more than four decades, the shopaholic America has shown an insatiable desire to spend until our credit cards melt. Yet today, a sharp slowdown, record-high gas prices, high consumer debt levels, a plunging real estate market, and the growing green movement all seem to be conspiring to dethrone the credit card way of life.
Aug 10, 2008 View in Crawl 4
cubicledroneAug 11, 2008
Mortgages are a great deal when you have a job that doesn't get sucked up some hairpiece's fat ass. But who the f**k signs up for 30 years of payments when your job can disappear because some rat f**k lying cheat tie-wearing asshat decides to change paradigms?
fredfredricksonAug 11, 2008
The problem is that credit became too easy, so to compensate, some industries began charging a lot more, and going back and forth like that over a few decades really does a number on everything involved.
bipolarruledoutAug 11, 2008
Your saying that you don't have the economics of scale that a large corporation has that can just move overseas whenever? Unpossible.
bsmellyfootAug 12, 2008
aside from the fact that a lot of people are very far in debt and losing their houses, i dont think that this is such a bad thing. living simply and below your means leads to less stress, greater appreciation for the special people in your life, and greater happiness overall.
testiculeseAug 12, 2008
And what would you need a 40k line of credit for? How is that in any way reasonable? 1 card with a 5k limit is FAR more than any (non-millionaire) person in this country needs. I've never had a credit card. I see no advantages to having one. I buy what I want when I can afford it. I have several bank accounts that automatically pull a few bucks from my saving account each paycheck, and when the amount reaches the thing I want (TV, computer, etc) then I go buy it.Congrats on having less than a grand on your card(s). You are a rare specimen!
hnortonAug 12, 2008
I wonder how long this will last, hopefully 4ever. I doubt it though, us Americans love our STUFF! If you have money problems or want great financial info check out www.molifeney.com. Really cool site
screwy1138Aug 13, 2008
Your credit score takes into account how much credit you have available to you. No one wants to give you a 100k loan if you have 100k available to you in credit card balances. I know very well that this impacts your scores thanks.
pokey5Sep 15, 2008
It is a simple fact of not spending what you don't have. Unfortunately, in today's society, we are taught to take out loans and use our credit cards because Banks are 'trustworthy'. If indeed you are careful with your money, you will use a credit card for the right reasons. Before applying for a credit card, you should always consider other ones out there, not ones that are simply advertised with the lowest interest rate. If you live in Australia, compare credit cards using Australia's leading credit card website - <a class="user" href="http://www.creditcards.com.au.">http://www.creditcards.com.au.</a>I only hope people are more careful with their money, unfortunately, some of us have to live by the fact of wrong decisions.
jenson22Apr 15, 2009
I don't really agree with this. Granted, credit card consumption may be down during these times, but our country runs on credit. When things start picking up in the economy, I'm sure people will once again dig into their pockets and start using up their credit.Whatever happens, it is an interesting story. <a class="user" href="http://www.realeflix.com">http://www.realeflix.com</a>