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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (9868)3/10/2004 4:41:02 PM
From: Pacing The Cage  Read Replies (4) of 110194
 
Re:"There will be no way to pay back that debt.
They will TRY and make it affordable with an interest rate cut."

The problem with that theory is that interest rate cuts don't flow down to credit card interest. Even with today's low rates, people are paying 21% on their credit card debt. And way too many are over their head in debt.

As those people lose their ability to make their CC payments, due to job loss, price inflation, or what have you... things will end badly.
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