As borrowing in the mortgage market slows, credit card borrowing is accelerating - a dangerous trend because borrowers still face weak income growth. That means the credit card market could eventually run into the same problems that now afflict the sub-prime mortgage market. Credit card debt is nearing a record $1 trillion as people use their plastic to stay financially afloat. |
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At thinkprogress.org
OpedNews volunteer from 2005 to 2013.
Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.