Finance market crisis : Are credit card next?
Expect the central bank around the world to cut more lending point. The subprime domino effect are yet to bottom. When the wall street collapse, it will trigger another credit crisis.
If anyone think Worlds central bank liquiditiy injection is going to give you positive idea to buy “relative cheap stock” in the market, I feed sorry for them.
Unless US federal reserve system go freeze the credit card loan interest, it is just matter of time that pile up credit card bankruptcy case hit the banks. The credit card loan crisis are little different than subprime loan : the bubble burst when too many bankruptcy case freeze the cash liquidity.
Fasten your seabelt. If you are not living in Zimbabwe, cash are the king. Wait for the REAL crash sales and don’t waste your bullet on false rebound.