Home › Forums › Financial Markets/Economics › CNNMoney: “Credit card defaults alarmingly high” and “Consumer spending surges”
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December 23, 2007 at 9:44 PM #11308December 23, 2007 at 9:55 PM #123394
nostradamus
ParticipantWhat I don’t get is how they can call it “consumer spending” when the consumer isn’t spending, the credit card company is! I think a true measure of consumer spending should only count when the *consumer* is truly the one spending their own money, not putting it on credit. Am I crazy?
December 23, 2007 at 9:55 PM #123541ParticipantWhat I don’t get is how they can call it “consumer spending” when the consumer isn’t spending, the credit card company is! I think a true measure of consumer spending should only count when the *consumer* is truly the one spending their own money, not putting it on credit. Am I crazy?
December 23, 2007 at 9:55 PM #123564ParticipantWhat I don’t get is how they can call it “consumer spending” when the consumer isn’t spending, the credit card company is! I think a true measure of consumer spending should only count when the *consumer* is truly the one spending their own money, not putting it on credit. Am I crazy?
December 23, 2007 at 9:55 PM #123623ParticipantWhat I don’t get is how they can call it “consumer spending” when the consumer isn’t spending, the credit card company is! I think a true measure of consumer spending should only count when the *consumer* is truly the one spending their own money, not putting it on credit. Am I crazy?
December 23, 2007 at 9:55 PM #123642ParticipantWhat I don’t get is how they can call it “consumer spending” when the consumer isn’t spending, the credit card company is! I think a true measure of consumer spending should only count when the *consumer* is truly the one spending their own money, not putting it on credit. Am I crazy?
December 23, 2007 at 10:41 PM #123419futurePrezOfUSofA
ParticipantAgree on meltdown but not a total meltdown.. the consumer debt is about between 915 – 965 billion. bush/fed is likely to intervene in this if consumer credit starts to push economy into recession…
most of consumer debt has been sliced and diced and sold in the secondary market with promising returns..
consumer spending going up in this housong turmoil worries me.. to me it is just a time bomb that will explode soon.
one good thing is that consumer credit debt securitization has been well understood.. so manipulating the system should be relatively easy as results can be predicted.
December 23, 2007 at 10:41 PM #123567ParticipantAgree on meltdown but not a total meltdown.. the consumer debt is about between 915 – 965 billion. bush/fed is likely to intervene in this if consumer credit starts to push economy into recession…
most of consumer debt has been sliced and diced and sold in the secondary market with promising returns..
consumer spending going up in this housong turmoil worries me.. to me it is just a time bomb that will explode soon.
one good thing is that consumer credit debt securitization has been well understood.. so manipulating the system should be relatively easy as results can be predicted.
December 23, 2007 at 10:41 PM #123592ParticipantAgree on meltdown but not a total meltdown.. the consumer debt is about between 915 – 965 billion. bush/fed is likely to intervene in this if consumer credit starts to push economy into recession…
most of consumer debt has been sliced and diced and sold in the secondary market with promising returns..
consumer spending going up in this housong turmoil worries me.. to me it is just a time bomb that will explode soon.
one good thing is that consumer credit debt securitization has been well understood.. so manipulating the system should be relatively easy as results can be predicted.
December 23, 2007 at 10:41 PM #123644ParticipantAgree on meltdown but not a total meltdown.. the consumer debt is about between 915 – 965 billion. bush/fed is likely to intervene in this if consumer credit starts to push economy into recession…
most of consumer debt has been sliced and diced and sold in the secondary market with promising returns..
consumer spending going up in this housong turmoil worries me.. to me it is just a time bomb that will explode soon.
one good thing is that consumer credit debt securitization has been well understood.. so manipulating the system should be relatively easy as results can be predicted.
December 23, 2007 at 10:41 PM #123668ParticipantAgree on meltdown but not a total meltdown.. the consumer debt is about between 915 – 965 billion. bush/fed is likely to intervene in this if consumer credit starts to push economy into recession…
most of consumer debt has been sliced and diced and sold in the secondary market with promising returns..
consumer spending going up in this housong turmoil worries me.. to me it is just a time bomb that will explode soon.
one good thing is that consumer credit debt securitization has been well understood.. so manipulating the system should be relatively easy as results can be predicted.
December 23, 2007 at 11:20 PM #123435drunkle
Participantwell, credit card debts can’t be “erased” like mortgage debt so is the effect really going to be that bad?
granted, consumers stopping “discretionary spending” in order to pay off debts will still have the same effect. but, not to the same degree, i would think… or at least, not to the degree of an armaggedon (sp?) scenario.
December 23, 2007 at 11:20 PM #123581Participantwell, credit card debts can’t be “erased” like mortgage debt so is the effect really going to be that bad?
granted, consumers stopping “discretionary spending” in order to pay off debts will still have the same effect. but, not to the same degree, i would think… or at least, not to the degree of an armaggedon (sp?) scenario.
December 23, 2007 at 11:20 PM #123604Participantwell, credit card debts can’t be “erased” like mortgage debt so is the effect really going to be that bad?
granted, consumers stopping “discretionary spending” in order to pay off debts will still have the same effect. but, not to the same degree, i would think… or at least, not to the degree of an armaggedon (sp?) scenario.
December 23, 2007 at 11:20 PM #123659Participantwell, credit card debts can’t be “erased” like mortgage debt so is the effect really going to be that bad?
granted, consumers stopping “discretionary spending” in order to pay off debts will still have the same effect. but, not to the same degree, i would think… or at least, not to the degree of an armaggedon (sp?) scenario.
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