Wednesday, October 22, 2008

Where The Economy Is Headed--Credit Card Disaster

The last 2 pictures are directly related to the poor state of the economy. The restaurant has been replaced several times on only a few years. The other stores were all types. They changed multiple times, also. Now empty appears to be the only surefire resident.
Credit cards are predicted to be the next crash industry. When the housing first started it's downturn, most people were in denial about recessionary changes. Blinded by greed, the buying frenzy continued. With no short term answer for mortgages monthly expense, credit card advances were the temporary solution. With the mirage of the economy set to turn the corner back towards prosperity, higher interest rates accompanied cash advances. Fees piled on like a tackled football player. Now, no signs of a turnaround spell disaster for the home owner. With banks directly tied to credit cards, the second phase of economic depression appears to be rearing it's ugly head. Further, the taxpayer is virtually drowning with expenses. The government cannot borrow indefinately. Additionally, Obama's platform spells disaster for small business. Job loss is the only thing we know forthcoming. Finally, Biden and I both agree on an international crisis coming. With an inexperienced radical at the helm, permanent economic collapse of our economy is evident. China will own the US and Europe. The Russians are set to meet the US on a new low plateau cold war. Muslim radicals are waiting to jump on the West. What lies in wait for the next President is anybody's guess. I can only pray someone with experience is at the helm.

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