Jutia GroupJutia GroupJutia Group provides professional equity research, commentary, and insight to help our readers profit in domestic and global markets. Additionally, we have many articles on personal finance, P2P lending, and politics. Articles
HSBC Chief Calls for Tougher Inflation Fight, Industry Changes
2008-05-27 19:36:00 The chief executive officer of HSBC Holdings PLC (ADR: HBC), Europe?s biggest lender, today (Tuesday) called on the U.S. Federal Reserve and other central banks to make fighting inflation a priority. “Inflation is a long-term problem because there is no long-term will to solve it,” Chief Executive Officer Michael Geoghegan said during an informal shareholders meeting in Hong Kong. He went on to criticize central banks that have kept interest rates low in response to curtailed economic growth and weak housing markets. But due in part to low interest rates, inflation has escalated as costs for food and energy soar, dampening consumer…SHARETHIS.addEntry({ title: "HSBC Chief Calls for Tougher Inflation Fight , Industry Changes", url: "http://jutiagroup.com/2008/05/27/hsbc-ch ief-calls-for-tougher-inflation-fight-ind ustry-changes/" });
VIDEO: Earthquake Fallout
2008-05-27 19:28:00 May 19, 2008 — China Earthquake : The economic aftershocks (0) SHARETHIS.addEntry({ title: "VIDEO: Earthquake Fallout ", url: "http://jutiagroup.com/2008/05/27/video-e arthquake-fallout/" }); More About: Video
VIDEO: What Billionaires Are Buying Now
2008-05-27 19:26:00 May 16, 2008 — Former Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind Energy (0) January 16, 2008 — Profiting from Divergences? You should be? (0) SHARETHIS.addEntry({ title: "VIDEO: What Billionaires Are Buying Now", url: "http://jutiagroup.com/2008/05/27/video-w hat-billionaires-are-buying-now/" }); More About: Video
Warren Buffett, the ?Oracle of Omaha,? Tells German Audiences That the U.S.
2008-05-27 18:45:00 The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investment guru Warren Buffett said in an interview published Saturday in the German magazine Der Spiegel. The United States is “already in recession ? perhaps not in the sense that economists would define it [with two consecutive quarters of declining gross domestic product (GDP)] but the people are already feeling the effects,” Buffett said. “It will be deeper and last longer than many think.” As Money Morning reported back in March, Buffett made a similar pronouncement to U.S. audiences during an interview with the…SHARETHIS.addEntry({ title: "Warren Buffett, the ?Oracle of Omaha,? Tells German Audiences That the U.S. Economy is in a Deep Recession", url: "http://jutiagroup.com/2008/05/27/warren- buffett-the-%e2%80%9coracle-of-omaha%e2%8 0%9d-tells-german-audiences-that-the-us-e conomy-is-in-a-deep-recession/" });
Biotech Stocks: Opportunities abound for Osiris Therapeutics (OSIR:NASDAQ)
2008-05-27 18:30:00 ?This Maryland-based biotechnology firm develops treatments for conditions as varied as Crohn?s disease, knee arthritis, tissue damage, life-threatening Graft-versus-host disease and acute radiation syndrome.? ? Laura Cadden Osiris Therapeutics, Inc. creates therapeutic drugs from human mesenchymal stem cells (MSCs) retrieved from bone marrow donated by healthy adult volunteers. Bone regeneration = big bucks Earlier this month, Osiris announced the sale of its Osteocel unit to NuVasive for $85 million. Osteocel promotes bone regeneration and is used in spinal fusion and other orthopedic procedures. This deal provides Osiris with the money and ability to focus on the next generation of revolutionary products? products like Chondrogen, which works…SHARETHIS.addEntry({ title: "Biotech Stocks : Opportunities abound for Osiris Therapeutics (OSIR:NASDAQ)", url: "http://jutiagroup.com/2008/05/27/biotech -stocks-opportunities-abound-for-osiris-t herapeutics-osirnasdaq/" }); More About: Disease , Nasdaq
India and Other Emerging Economies Continue to Struggle With Inflation
2008-05-27 15:36:00 India?s wholesale price index rose 7.82% for in the week ended May 10, the Ministry of Commerce and Industry reported. It marked the 13th straight week that the inflation rate has been above the central bank?s 5.5% target, highlighting the increased pressures many developing nations are under given soaring commodities prices. The rate of inflation for the week ended May 15 is expected to be 8.02%, the highest level since September 2004, according to Bloomberg News. “The current high level of inflation is totally unacceptable, especially in terms of impact on inflationary expectations,” Reserve Bank of India (RBI) Governor Yaga Venugopal…SHARETHIS.addEntry({ title: "India and Other Emerging Economies Continue to Struggle With Inflation ", url: "http://jutiagroup.com/2008/05/27/india-a nd-other-emerging-economies-continue-to-s truggle-with-inflation/" }); More About: India
Global Beer Titan InBev to Make $46 Billion Offer for No. 1 U.S. Brewer, An
2008-05-26 19:30:00 Shares of the largest U.S. brewer, Anheuser-Busch Companies Inc. (BUD), maker of such iconic brands as Budweiser and Bud Light, shot up more than 7% on Friday on news that the Belgium-based InBev NV was considering a $46 billion takeover bid. European beermaker InBev is the world?s largest brewer. Its stable of beers includes such well-known names as Stella Artois, Beck?s and Brahma. “The two companies would represent an excellent geographic fit,” Wim Hoste, an analyst at KBC Securities, part of KBC Groep NV in Brussels, said in a telephone interview with Bloomberg News. “The black hole for InBev is the [United…SHARETHIS.addEntry({ title: "Global Beer Titan InBev to Make $46 Billion Offer for No. 1 U.S. Brewer, Anheuser-Busch", url: "http://jutiagroup.com/2008/05/26/global- beer-titan-inbev-to-make-46-billion-offer -for-no-1-us-brewer-anheuser-busch/" }); More About: Investment Ideas
Major Lending Pullback Predicted by Maverick Wall Street Analyst Could Have
2008-05-26 17:15:00 Oppenheimer & Co. (OPY) analyst Meredith Whitney?s reputation has soared like a skyrocket since she made her bearish - but highly prescient - call on the banking sector, including Citigroup Inc. (C), as Money Morning reported last fall. Now she?s back. And her outlook for the financial sector is actually worse. Whitney is now predicting that the banking-sector?s financial crisis will extend well into next year. If not beyond. And that?s not even the bad news. Whitney now says the worst may be yet to come. The banking-sector financial crisis will last at least until the end of next year, and may actually stretch…SHARETHIS.addEntry({ title: "Major Lending Pullback Predicted by Maverick Wall Street Analyst Could Have Dire Implications for U.S. Economy", url: "http://jutiagroup.com/2008/05/26/major-l ending-pullback-predicted-by-maverick-wal l-street-analyst-could-have-dire-implicat ions-for-us-economy/" });
Crude Oil: Honeymoon surprise
2008-05-26 16:21:00 It is a real-life version of the Beverly Hillbillies. Or maybe it should be called the Belizean Hillbillies. My new wife made me promise to leave my laptop and writing duties at home on our recent honeymoon. Like a good new husband, I eagerly complied. But that did not stop me from keeping an eye out for some story ideas. Just minutes after landing on a dirt runway in a small ten-passenger plane, we were escorted to the beach along a rough, gravel road. We traveled through orange and papaya fields, through dense jungles, and across wide-open cane fields. The total drive…SHARETHIS.addEntry({ title: "Crude Oil : Honeymoon surprise", url: "http://jutiagroup.com/2008/05/26/crude-o il-honeymoon-surprise/" });
Cashing in on Commodities: Lumber & Paper Mills Struggle as Timber Stands T
2008-05-26 15:48:00 There?s a classic squeeze going on in the timber markets right now. As you might expect, the U.S housing slump is reducing demand for finished lumber. Meanwhile, timber, pulpwood, and paper prices are rising worldwide - but curiously, profit margins are eroding. What?s up with that? The global commodity boom has created a supply/demand price imbalance between the four distinct industry sectors that rely on timber as a raw material. In fact, that imbalance is a huge mismatch. And savvy investors may be able to wring substantial returns from the winner. You see, timber companies have shrewdly maintained monopoly-like control of…SHARETHIS.addEntry({ title: "Cashing in on Commodities : Lumber & Paper Mills Struggle as Timber Stands Tall", url: "http://jutiagroup.com/2008/05/26/cashing -in-on-commodities-lumber-paper-mills-str uggle-as-timber-stands-tall/" }); More About: Investment Ideas , Featured
Cashing in on Commodities: What?s Driving the Oil Bull, How Much Further It
2008-05-23 20:00:00 Exactly 12 months ago, West Texas Intermediate crude oil was trading at just under $63 a barrel. Yesterday (Thursday) futures prices for that benchmark grade of crude oil hit the latest in a succession of record highs, punching through the $135-a-barrel mark on the New York Mercantile Exchange, before sliding back. In other words, in only a single year, crude-oil prices have more than doubled, soaring 115% - and setting 27 separate new records along the way. And while a short-term correction may be in the offing - especially with fears of a U.S. recession ebbing - the reality is that oil…SHARETHIS.addEntry({ title: "Cashing in on Commodities : What?s Driving the Oil Bull , How Much Further It Will Go, and How Investors Can Profit", url: "http://jutiagroup.com/2008/05/23/cashing -in-on-commodities-what%e2%80%99s-driving -the-oil-bull-how-much-further-it-will-go -and-how-investors-can-profit/" });
Global Investing Roundups
2008-05-23 19:00:00 WTO?s Global Trade Deal; Ford?s Lowered Expectations; Surprise Decline in Jobless Claims; Oil Drags on Hang Seng; Wider Loss for B&N; Big Oil Spends $1.3 Million in 1Q Lobbying; Bill Miller Joins Ichan in Pressuring Yahoo; IEA to Probe World?s Oil Supply; Medtronic Coughs Up $75 Million to Settle Suit. The World Trade Organization (WTO) has published a new draft of plans for a global trade deal that will be discussed the next time world trade ministers meet, BBC News reported. Although the plan doesn?t change existing tariff or subsidy cuts, it does offer some compromises and clarifies some key “sticking…SHARETHIS.addEntry( { title: "Global Investing Roundups", url: "http://jutiagroup.com/2008/05/23/global- investing-roundups/" });
NRG Looks to Electrify its Business with $11.3 Billion Calpine Takover
2008-05-23 18:11:00 Princeton, NJ- based NRG Energy Inc. (NRG) has publicly acknowledged its estimated $11.3 billion takeover bid for Calpine Corp. (CPN) - a wholesale provider of electricity emerging from chapter 11 bankruptcy protection. NRG acknowledged Wednesday that it made the initial $22.98 a share offer on May 14. NRG said the deal assumes Calpine had 500 million fully diluted shares outstanding as of May 13. That calculation would value all of Calpine at $11.35 billion. NRG offered to pay 0.534 shares for each share of Calpine, the company said in a statement. Based on NRG?s Wednesday closing price of $42.51, the deal values each…SHARETHIS.addEntry({ title: "NRG Looks to Electrify its Business with $11.3 Billion Calpine Takover", url: "http://jutiagroup.com/2008/05/23/nrg-loo ks-to-electrify-its-business-with-113-bil lion-calpine-takover/" });
Shares of Canada?s BCE Plunge After Investors Learn Proposed LBO is in Jeop
2008-05-23 15:49:00 Shares of BCE Inc. (BCE) suffered their biggest downdraft in at least a quarter century yesterday (Thursday), after an unexpected court ruling threatened to derail a $53.9 billion leveraged buyout (LBO). A collapse would make it the biggest LBO ever to fail. Indeed, BCE would top the list of 62 LBOs - with a combined value of $174 billion - that were announced last year and then later abandoned as borrowing costs more than tripled, Bloomberg News reported. BCE had expected to complete the buyout by next month. The shares of the No. 1 Canadian telephone company plunged as much as 16% yesterday -…SHARETHIS.addEntry({ title: "Shares of Canada ?s BCE Plunge After Investors Learn Proposed LBO is in Jeopardy", url: "http://jutiagroup.com/2008/05/23/shares- of-canada%e2%80%99s-bce-plunge-after-inve stors-learn-proposed-lbo-is-in-jeopardy/" }); More About: Shares
Cashing in on Commodities: The Short- and Long-Term Solutions to the Growin
2008-05-20 16:51:00 Crude oil is grabbing the headlines but it’s coal and uranium that together provide nearly half the world’s power. So it follows that as worldwide demand for electricity skyrockets - as it will - the shares of companies that provide these two key fuels also will take flight. And they make for almost-perfect partners. That’s because coal represents the world’s short-term solution to the problem of a rapidly climbing global demand for power. It’s plentiful, it’s cheaper than other available alternatives, and a big percentage of the world’s power plants are set up to burn this fossil fuel. Uranium, on the other hand, represents the long-term solution to potential fuel shortages - and it offers a solution to global warming, to boot. Uranium-powered commercial nuclear plants are cheap to operate, can run a long time, and when operated correctly cause little pollution. The New ‘Black Gold’ India, a growing economic and industrial power, relies on coal for nearly 70% of ... More About: Commodities , Long , Solutions , Short , Term
China Seeking Superpower Status With Jumbo Jet Deal
2008-05-20 08:05:00 As a journalist who has followed both the aerospace sector and China ’s global emergence for many years, I can honestly say that I wasn’t surprised when China recently announced its intent to get into the jumbo-jet airliner business. But for investors with an interest in long-term profits, this is a story that’s well worth a detailed look. It will leave you with a very clear understanding of why China is a “must invest” kind of market. And it will demonstrate, yet again, how committed China is to becoming a world economic superpower, as well as the tenacity that’s likely to make that happen. Let’s start with a look at the basics. Two weekends ago in Shanghai, the Chinese government unveiled its first “jumbo” passenger aircraft company, a venture that’s labeled as the Commercial Aircraft Corp. of China Ltd. (CACC). By “jumbo” jet, China is referring to the so-called widebody airliners that carry 200 to 800 passengers and make globetrott... More About: Deal , Status , Seeking , Jumbo
Talks About Inflation and Interest Rates Will be on the Front Burner This W
2008-05-19 19:00:00 You can bet there will be a lot of discussion about interest rates this week, thanks to the release of the producer price index (PPI) report tomorrow (Tuesday) and the U.S. Federal Reserve meeting minutes on Wednesday. The PPI report will undoubtedly rekindle the inflation-versus-recession debate (with more than a few comments about stagflation thrown in for good measure). While the wholesale inflation gauge (PPI) provides another look into how escalating food and energy prices are impacting the economy, the most recent moves in oil and gas may not be factored in for another month or two. On an optimistic note, gasoline prices historically peak around Memorial Day and then fall throughout the remainder of the summer. As we’ve said here a number of times before, don’t expect that pattern to repeat itself this year. In a recent column, we told you to ignore a U.S. Energy Department forecast that gasoline prices at the pump would reach $3.73 a gallon before falling. In fact, I said... More About: Inflation , Interest Rates , Interest , Burner , Front
Consumer Sentiment at Lowest Level Since Stagflation Era
2008-05-19 16:48:00 Mirroring the stagflation of the early 1980s, consumer sentiment hit its lowest level since that time period this month as short-term inflation continues to ramp up. The Reuters/University of Michigan preliminary index of consumer sentiment dropped to 59.5 in May from 62.6 in April. The index is at its lowest level since June 1980. Consumer confidence was at 85.6 as recently as 2007. “The consumer is getting extremely grumpy,” Brian Bethune, director of financial economics at Global Insight Inc., who had forecast a decline in the confidence index to 59.6, told Bloomberg News. “The economy is flirting with a recession. The only thing keeping it out is this huge amount of pump-priming going on,” including aggressive interest-rate reductions by the U.S. Federal Reserve, the government’s stimulus package and deep discounting by retailers. Lower-income households are feeling the rising prices at the pump and grocery store most acutely, the survey showed, as su... More About: Stagflation , Sentiment
VIDEO - Value Investing
2008-05-19 16:11:00 Value Investing No Related Post ShareThis More About: Video , Value Investing
China Earthquake: The economic aftershocks
2008-05-19 16:08:00 A Chinese friend of mine spent most of last week on the phone, checking up on family. He’s from Sichuan, the Chinese province most affected by last Monday’s earthquake. The death toll is now expected to exceed 50,000. But millions of homes and businesses have not just been destroyed. My friend’s family had no casualties to deplore—but even they have been spending the last week outside, in tents and in cars, as fear of aftershocks have disrupted life all across the region. Sichuan and the surrounding areas are among the most populous in China . The province has 40 percent of China’s gas deposits and was responsible for over 20% of natural gas output in 2006. It has historically known as the “Province of Abundance,” being one of the major agricultural production bases of China. As the quake affected mostly rural areas, China’s rice and wheat and pork pork output will be severely affected at a time of already tight supplies and rising food prices. But the province is als... More About: Earthquake , Economic
Saudi Arabia Agrees to Increase Oil Output After Crude Hits Another New Hig
2008-05-19 10:15:00 Oil soared to yet another record high on Friday after Goldman Sachs Group Inc. (GS) raised its price forecast for the second half of the year. However, during a visit with Saudi Arabia ’s King Abdullah U.S. President George W. Bush was able to convince the world’s leading oil exporter to increase its output. Light sweet crude for June delivery jumped $3.31 a barrel, or 2.7%, to reach $127.43 in electronic trading on the New York Mercantile Exchange. Oil prices have now soared 103% in the past 12 months. The jump was largely attributable to a new prediction from investment-banking giant Goldman Sachs, which raised its price forecast for the second half of the year to $141 a barrel. Goldman Sachs analysts had previously quoted a price of $107 a barrel. “Supply constraints continue to push crude prices higher,” Goldman analysts wrote in a research note Friday. “The dire macroeconomic impact from the current oil shock has yet to materialize.” This is the... More About: Saudi Arabia , Hits
As China’s Consumers Start Spending More, U.S Consumers Will Begin to Fee
2008-05-19 09:00:00 As China grapples with the consequences of its devastating earthquake, it finally also has begun to confront the destabilizing forces bubbling that are bubbling up from beneath its economic landscape. Last week, several key Chinese officials, typically not known for their candor, conspicuously noted the need to both stimulate domestic consumer spending and to bring down roaring inflation. While at first blush these two goals might appear mutually exclusive, China’s leaders do have a “magic bullet” that can hit both targets at once. The Easy Way vs. The Hard Way A stronger currency, commensurate with China’s increased economic strength, will simultaneously tamp down inflation and enable Chinese consumers to buy more goods and services. However, for reasons not entirely clear to me (or few others, for that matter), China’s leaders are resisting this simple-and-beneficial solution. By prodding China’s citizens to spend more, the country’s leaders say their goa... More About: Start , Spending , Consumers
VIDEO - Ascending Triangles
2008-05-17 16:37:00 Leavitt Brothers’ Chart Pattern tutorials… VIDEO - Bullish Symmetrical Triangles VIDEO - Ascending Triangles Here’s a summary of ETFs… Report - ETF Summary Here are many of our favorite Jesse Livermore quotes… Report - Jesse Livermore Quotes http://www.leavittbrothers.com/ No Related Post SHARETHIS.addEntry({ title: "VIDEO - Ascending Triangles", url: "http://jutiagroup.com/2008/05/17/video-a scending-triangles/" }); More About: Video , News
With its Profits Lagging, GE May Have a Deal in the Oven, Analysts Say
2008-05-17 15:46:00 While industry insiders say that General Electric Co. (GE) may be looking to sell or spin-off its home-appliance business unit, the move may actually be the first in a series of divestitures designed to unshackle the Corporate America heavyweight from consumer-driven markets. The rumored decision to shed the century-old business that makes refrigerators, ovens and dishwashers may signal even bigger divestiture deals before the year ends, as GE Chief Executive Officer Jeffrey R. Immelt continues pursuing his strategy of shifting the huge conglomerate out of economically sensitive sectors. Since Immelt announced that plan in December 2002, GE has cut loose more…SHARETHIS.addEntry({ title: "With its Profits Lagging, GE May Have a Deal in the Oven , Analysts Say", url: "http://jutiagroup.com/2008/05/17/with-it s-profits-lagging-ge-may-have-a-deal-in-t he-oven-analysts-say/" }); More About: News
Icahn: Yahoo ?Completely Botched? Microsoft Merger; Threatens Board Proxy W
2008-05-17 08:30:00 Carl Icahn is adding to his reputation as a boardroom bully. In a letter to Yahoo Inc.? (YHOO) Chairman Roy Bostock, the billionaire investor threatened to seek control of the board and resuscitate takeover talks with Microsoft Corp. (MSFT). Two weeks ago, Yahoo Chairman of the Board and co-founder Jerry Yang rebuffed Microsoft? $47.5 billion (or $33 a share) bid, sending shares down $4.43 (or 15%) to $24.24. That of course didn?t bode well for Icahn, who said he owns 59 million Yahoo shares. ?The board of directors of Yahoo has acted irrationally and lost the faith of shareholders and…SHARETHIS.addEntry({ title: "Icahn: Yahoo ?Completely Botched? Microsoft Merger; Threatens Board Proxy War", url: "http://jutiagroup.com/2008/05/17/icahn-y ahoo-%e2%80%9ccompletely-botched%e2%80%9d -microsoft-merger-threatens-board-proxy-w ar/" }); More About: News
Former Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind E
2008-05-16 19:43:00 T. Boone Pickens made his fortune in oil. But now the Dallas oilman and famed former corporate raider is betting $2 billion that he can have the same success with a new source of energy - wind. Pickens? Mesa Power LLP yesterday (Thursday) unveiled the first phase of an eventual $10 billion alternative energy project that has the potential to become the world?s largest wind farm. “You find an oilfield, it peaks and starts declining, and you?ve got to find another one to replace it,” Pickens, who once operated one of the largest independent oil-and-gas production companies in the country, said of…SHARETHIS.addEntry({ title: "Former Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind Energy", url: "http://jutiagroup.com/2008/05/16/former- oilman-t-boone-pickens-makes-a-2-billion- bet-on-alternative-wind-energy/" }); More About: General Electric
European Growth Strong in the First Quarter, but Will it Last?
2008-05-16 17:51:00 Powered by the biggest German expansion in 12 years, the European economy shrugged off the U.S. slowdown to post first-quarter growth numbers ahead of analyst estimates. Gross domestic product (GDP) in the 15-country Eurozone increased by 0.7% in the first three months of the year, Eurostat reported. Analysts had predicted a growth rate of 0.5%. Germany and France - which together account for nearly half the Euro region?s GDP - made the difference. The German economy, the continent?s largest, expanded by 1.5% in the first quarter, compared with a growth rate of 0.3% in the final three months of 2007. France also turned…SHARETHIS.addEntry({ title: "European Growth Strong in the First Quarter , but Will it Last?", url: "http://jutiagroup.com/2008/05/16/europea n-growth-strong-in-the-first-quarter-but- will-it-last/" }); More About: News
Energy Utilities: Buy Exelon Corp. (EXC:NYSE)
2008-05-16 17:40:00 Here?s a news story I bet you haven?t heard. It?s created a nearly catastrophic economic environment in one of our nation?s state capitals, but few folks are talking about it. Maybe it is because they are scared to raise the subject. Just a few weeks ago, an avalanche took out Juneau, Alaska?s power supply. Nearly two miles of high-power transmission lines from a nearby hydroelectric plant were destroyed. It will take more than three months to fix the problem. Meanwhile, the entire city (including all the government offices, mind you) is forced to get its energy from a handful of huge…SHARETHIS.addEntry({ title: "Energy Utilities : Buy Exelon Corp. (EXC:NYSE)", url: "http://jutiagroup.com/2008/05/16/energy- utilities-buy-exelon-corp-excnyse/" });
Two Ways to Profit as China and Japan Quietly Forge the Most Powerful Tradi
2008-05-16 17:11:00 Chinese President Hu Jintao and Japan ese Prime Minister Yauo Fukuda met recently and signed some modest cooperation agreements. That doesn?t sound much to get excited about, until you consider how well the Chinese and Japanese economies fit together. Think of it this way: With China ?s boundless supply of low-cost labor and Japan?s superb education system - and an ability to work together that?s clearly founded on considerable commonality of thinking - these two countries, as a pair, will be world-beaters. In fact, they?ll be world leaders. The Past has Passed The summit - while modest - marked an important policy change from the mutual…SHARETHIS.addEntry({ title: "Two Ways to Profit as China and Japan Quietly Forge the Most Powerful Trading Alliance in the World", url: "http://jutiagroup.com/2008/05/16/two-way s-to-profit-as-china-and-japan-quietly-fo rge-the-most-powerful-trading-alliance-in -the-world/" }); More About: News , Featured
That Ticking Noise You Hear in Your Wallet is a Credit-Card Time Bomb
More articles from this author:2008-05-15 20:15:00 For those holding out hope that the American economy can miraculously avoid a long and deep recession, consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, last week?s report showing that consumer credit grew by $15 billion was widely heralded as proof of America?s economic strength and resilience. The reality is very different, however: We?re already suffering from the after-effects of too much debt, meaning that our salvation cannot be found in more of the same. Death by a Thousand Charge Slips Credit card debt, which now stands at whopping $957 billion nationally…SHARETHIS.addEntry({ title: "That Ticking Noise You Hear in Your Wallet is a Credit-Card Time Bomb", url: "http://jutiagroup.com/2008/05/15/that-ti cking-noise-you-hear-in-your-wallet-is-a- credit-card-time-bomb/" }); More About: Credit Card 1, 2, 3, 4, 5, 6, 7 |



