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Sunday, October 25, 2009

Revolution Watch

In the last week I have received two of the enclosed documents reminding me that the new interest rates on my gas credit cards has taken a slight change. It seems they saw fit to raise my interest rate to the low level of only 25-29.95%. Now mind you, I do not care because I NEVER carry a balance, so they work just fine. But can you imagine what this means for folks less fortunate who depend on these things to maintain their American dream. What if a person has a $10K standing bill or maybe a couple of them?



This entire country is run on debt. These cards drive the consumer society and the economy that goes with it. It would seem that this type of change in easy credit may slow the economy down, maybe to a level that is sustainable. Maybe this is a move in the right direction. Maybe it is an indicator of things to come. I guess one could call it a drop in the standard of living.


But then, if folks don't buy things how many others will lose their jobs because what they were making is now not being purchased? Rather seems like a downward spiral---sort of a revolution.

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