Will the Credit Card market Crash?
What happens when your credit runs out in 2011? What happens when your loans dry up? What happens when you have no other method of paying bills, apart from your basic salary? Who will bail you out? Your parents? Family? Your friends? That Lottery ticket you bought last month but never bothered checking? The Banks? Was that laughter I heard down the back? To pay your bills, what will you turn to? Black Magic? Religion? Will you stick your head in the sand, and wait for it all to pass? The imminent collapse of the credit card market – which is coming, believe me, is another horror story that hasn’t fully played out yet. But it could be happening.
It’s as sure as another downturn, just like the one we are still having. You may have heard people refer to a double curve in the financial down turn in the current play of things, in our mostly western financial and economic outlook. The apparent phenomenon where-by - just when things are improving and getting better, they suddenly collapse again. The smart money is on a massive dive in our personal financial circumstances. Has anyone said anything about interest rates going up eventually? Any idea what that does to a credit card debt?
How compound Interest works...
Everyone used to think the Mortgage market used to be safe as houses once. Yeah, we all know about that too! The average American family is leveraged up to the tonsils and it takes approximately 18 months for a repossession notice to come through, so Americans need the old Credit Card to keep things going in the meantime. Things like the car they drive. And that won’t last long, believe me. The debts will be replaced by even bigger debts. More problems are just waiting to invite themselves to the party. That’s the trouble with parties, soon as things get swinging, everyone wants to come and join in. So when the final day comes and that person simply cannot go any further with his or her finances, and loses that credit card, and has no other “cards” to play, what then? Because it’s what comes next that seems to worry the hell out of people. The word Bankruptcy terrifies people. One must ask – can the economy handle another downturn? Is there money available for yet another bail out? What has the average American being doing to plan for that day? Uh, you are planning something, right?
Wait a minute. This isn’t one of those smug sanctimonious articles that just dumps in your lap and leave you to it. Hell, I’m not that evil. What if I had some news for you there and it may help you. It isn’t a terribly comforting thing to hear, but it’s a lot better than most other solutions. It is simple, and more then two thirds of Americans could easily do this. They are trained or have the capability to do this. I am talking about doing something that most tax paying salary workers in America normally wouldn’t think of doing...
I’m talking about going out on your own and setting up a business, and simply work your way through the financial storm. You need to be busy working and earning and spending your way out of this financial turmoil. (Which was started by some other wealthy schmucks who just got to greedy!)
You are probably thinking – is this really possible? The answer for someone who truly wants to get out of this rut is - Yes. I have a hub page dedicated to how to deal with this - setting up your own business and earning from home. And I am going to show you what happens and how to do it? Are you ready? It's simple and costs you about as much as you need to set up and write your own hub page or blog...
Now click the link and discover some useful ways to make some decent income...
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