Everybody knows already that recession is in full swing. We were afraid we wn't be able to afford many things including Las Vegas and credit cards... to the total surprise, the latest surveys showed that the usage of credit cards became increased! What is the reason? People have gone mad?
An easy and sad explanation is drop in consumers' buying ability. People find less opportunities to pay in cash, they have to live in credit. Since prices skyrocketed, there is no other way than living beyond means according to how you used to live. Is it fair? or is it wise? I have no credit card at the moment...
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