this is classic!

Unemployment rises into double digits, credit cards cos raise rates/ fees while cutting credit limits, oil is at 12 month high, and Banks eliminate competition through more consolidation in anticipation of raising their fees.

CONSUMER DEBT FALLS!

just goes to prove that if you want to lower debt and slow spending, just fire someone and take away their credit cards. I'd like to do a comparative to this with stats for violent crimes, homeless, food stamp applications, and soup kitchen attendance. then chart that against the recent tax allowance/cuts for BIG CORPS. If were cutting their taxes while they cut jobs, and the tax payer inherits the costs for unemployed workforce, the only benefactor is the price of the stock!

SIMPLE FACTS!





US ECON: September Consumer Credit Fell By $14.8 Bln


http://www.forbes.com/feeds/afx/2009/11/...