Lol jkt I was just looking over those delinquency numbers again. Hahaha we are going to become a nation of dead beats. I'm calling 20% mortgage , 10-15% commercial and 10-15% in personal loans. All delinquent leading to bankruptcy. People are not going to give a rats ass about credit score.
the govt thinks they saved us from the crisis....they have done the exact opposite.
DC and Wall St is littered with tunnel vision and the inability to think like an average American.
When books are written ... moral hazard will be the title of many books
Americans are pist and people who normally would pay their credit cards are going to tap out. No mass...paying 15% plus on a credit card that was 8% is going to rub millions the wrong way. I expect higher then expected charge offs...this debt wont and cant be repaid if credit card companies are charging 15-25%
Shows you how bad things are when they borrow at ZERO and must loan @ 15-25%