Quote:
Originally Posted by Idiens
What do you guys think of two theories I've seen reported:-
1. The consumers have gone from sub-prime debt to credit card debt and the next bubble to burst is credit card companies.
2. The Financial sharks, having fixed the property market, have gone on the commodities markets, driving prices up, particularly on food, which they know the governments (alias tax payers) will have to bail them out on (again).
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The UK is facing a serious credit card debt problem and I have heard that Citibank in the US already is having to write CC debt down. Net net, yes it will be the next big implosion.