credit cards

UPDATE: The latest chart on U.S. consumer credit growth is here. I have been focusing on debt as a primary contributor to the slump the U.S. is experiencing. We've seen skyrocketing Debt-to-GDP and Mortgage Debt. Now, I want to look at…

Another side effect of the credit crunch is the lack of availability of cheap debt financing for businesses. Companies have two alternatives: they can hold off on needed financing until the credit markets are more inviting or they can…

This article speaks for itself.Bill for taxpayers swells by trillionsDeficit far bigger than government estimateBy Dennis CauchonUSA TODAYThe federal government's long-term financial obligations grew by $2.5 trillion last year, a reflection…

The credit crunch has claimed the heads of many a financial market since it was prematurely marked as 'contained' to subprime loans. These markets include jumbo mortgage loans, Collateralized Debt Obligations (CDOs), asset backed…

Caroline Baum was asking in her column today: "How can a 2 percent funds rate be appropriately calibrated to promote moderating inflation when inflation is currently rising at almost 4 percent?" The answer: it can't. The Fed is all about…

I am on record for expecting a serious downturn after the Tech Bubble crashed in 2001. We muddled through for a few years, but ultimately most of the damage was done and gone by 2004. The Tech Bubble was a bubble of asset prices that had…

Since the beginning of the bull market in 1982, the U.S. has become a society hooked on debt. Total debt (including financial services companies) has nearly doubled as a percentage of GDP in those 25-odd years (from 133% of GDP at $4…

First the banks won't refinance, then they won't restructure mortgages, now they're pulling out all stops in this mortgage mess. They are pulling existing home equity lines of credit. That's right, in a feeble attempt to save their sorry…

The Lex column in Yesterday's FT highlights what many market players are thinking about the company's £4 billion ($8 billion) rights issue: the economic outlook in the UK is worse than feared."The main potential explanation for the apparent…

If you are looking for companies that have yet to write down massive amounts of losses in this global credit meltdown, look no further than Banco Santander. The Spanish Bank holds a major position in the Spanish mortgage and construction…