Comments on: A silver lining: Credit cards buffered from rate hikes http://blogs.reuters.com/reuters-wealth/2011/08/09/a-silver-lining-credit-cards-buffered-from-rate-hikes/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: kuldeepo http://blogs.reuters.com/reuters-wealth/2011/08/09/a-silver-lining-credit-cards-buffered-from-rate-hikes/comment-page-1/#comment-7383 Wed, 10 Aug 2011 17:32:23 +0000 http://blogs.reuters.com/reuters-money/?p=18112#comment-7383 there is a story which tells how govt with banks and rich people making fool of us ……..capitalism

One day a tourist comes to the only hotel in a debt ridden town. He lays a $100 note on the table and goes to inspct the rooms. The hotel owner takes the note and pays his debt to the butcher. Butcher pays the pig farmer. Pig farmer pays the feed supplier. Supplier pays the prostitute. The hooker pays off debt to the hotel owner for the rooms she rented for her clients. Hotel owner then lays the note back on the counter. The tourist picks it up and leaves as he he did not like the rooms. No one earned anything. But the town is now without debt & looks to the future with a lot of optimism. And that is how the world is doing business today!

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By: JLWR http://blogs.reuters.com/reuters-wealth/2011/08/09/a-silver-lining-credit-cards-buffered-from-rate-hikes/comment-page-1/#comment-7357 Wed, 10 Aug 2011 15:10:52 +0000 http://blogs.reuters.com/reuters-money/?p=18112#comment-7357 …And if we stop spending we just increase the chances of more job losses which creates additional decreases in spending creating a downward spiral of doom and gloom and depression of a magnitude never seen before on a planet of almost 7M people. Why do banks and credit card companies have to make double digit interest when the entire globe is in a deep financial downward spiral? Cannot they not at least pledge to keep interest rates in the single digit range for 5-7 years until we can come out of the spiral? What is wrong with these financial leaders? Does greed cause insanity or does insanity cause greed?

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By: Bob9999 http://blogs.reuters.com/reuters-wealth/2011/08/09/a-silver-lining-credit-cards-buffered-from-rate-hikes/comment-page-1/#comment-7352 Wed, 10 Aug 2011 13:37:08 +0000 http://blogs.reuters.com/reuters-money/?p=18112#comment-7352 Yeah, but credit cards have extremely high interest rates — at a near-space level of altitude compared to Treasury bonds. And borrowers are borrowing from banks rather than from the U.S. Government. So the connections between the credit card market and the U.S. Treasury bond market are attenuated.

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