Tuesday, February 28, 2012

Report: Credit Card Debt in US Nearing Toxic Levels

Been pulling out the plastic a lot lately, have we? That's gonna cost you more in the end, friend.

More American households are falling back into the debt hole, this time without the safety net of home values to help bail them out, the New York Post reported Sunday.  Last year, total US consumer debt reached its highest point in a decade, according to a credit card industry observer.  "Now more than ever, families need to work at saving and paying off any outstanding debts," said Howard Dvorkin, a certified public accountant and founder of the credit counseling service Consolidated Credit. After a few months of reducing credit card debt levels, Dvorkin said, Americans are starting to return to their reliance on debt.

Credit Card Debt Nears Toxic Levels

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.