The federal reserve is running commercials in movie theaters that warn consumers not to run up credit card debt, I find this action to be a stones throw distance from the twilight zone.
Is the Federal Reserve admitting that too much credit card debt at obscene interest rates just might not be a good thing for the economy or the future of our country??? Ya think.
And yet, Wall street waits with baited breath hoping consumers will run up their credit cards this holiday season so the "eCONoME" picks up.
"Buy-Polar-Opposite eCONoME" anyone? Wall Street Needs consumers to go further into credit card debt to proclaim an economic recovery, yet the Federal Reserve knows that consumer credit card debt reduction would actually strengthen local economies all over the country without having to raise taxes.
Credit Card Debt reduction would instead actually create jobs and increase tax revenue as local economies began to spring back from an influx of people paying other people for local goods and services versus just paying monthly obscene credit card interest rate charges.
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