Quote:
Originally Posted by Profits of Doom
The problem with this theory is anyone can get a bank account with a debit card and use that just like a credit card to sign up. Even people that are in Checksystems can get one of those second chance bank accounts or a prepaid card like Netspend.com. Even though traditional credit cards will be harder to come by the average schmuck has more options than ever now to be able to purchase something online via a credit card...
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i don't think yo have thought the credit crisis through....
there's going to a huge decline in disposable income... its already been happening..
people are losing and have lost 20-35% of their retirement accounts and that will trickle down at some point.
retail sales are going to be terrible this holiday season and thats going cause further turmoil in the market.
of course its not the end of the world, but i think its going to be very challenging.