Monday, June 15, 2009

Credit Card Crisis

In my earlier post I said,

Can the 3-month long stock rally continue?


IMO, until employment picks up, or at least an stabilization in unemployment is seen. I suggest, be wary.


News from Reuters: U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America Corp's lending portfolio, in another sign that consumers remain under severe stress.

We, indeed, have to look somewhere else for better and reliable signs that the world economy is out of the crisis.

IMO, it is great that this Credit Card Crisis is explored as early as now.


This is all for now.