Saturday, November 03, 2007

Bad credit debt the next wave?

You know that subprime mortgage crisis in the US right now? Well, word on the street there is that folks with credit card debt in US are the next big bubble waiting to happen. If that bubble pops before the US recovers from the subprime mortgage mess... well, let's just say that the US economy is gonna take a big hit. And if that happens, the rest of the world will be badly affected. Anyone remember the 1997/98 Asian crisis? I do. It's been ten years since that happened, and they say a crisis of some sort will come around every ten years.

I do hope that the folks with bad credit in US will try to do something to get out of the mess they're in before the rest of the world gets affected. They can see for ways to make their credit better (they offer
bad credit loans) and even though there's a list of credit cards for those with bad credit, let's just say that more debt is evurl and should be avoided at all cost. Heh.

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3 spins:

L B said...

you sure no chupping here either?!!

rinnah said...

l b: Yes, very sure! *grin*

Hiram said...

It will not succeed in reality, that's exactly what I think.