Okay, this is entirely ancedotal, but I had a rather spooky weekend. I went to Wal-Mart today and half of the checkout lanes that were open were empty. Literally, multiple employees standing around chatting with no one to check out. Same thing at the grocery store yesterday - though a new one just opened up down the street, so I expected that. Then we went to dinner tonight at my daughter's favorite restraunt, which six months ago would have involved a long wait on a weekend, and it was maybe 75% empty, both when we came and left. Maybe just all coincidence here, but I have rarely seen so many people working at stores and restraunts with virtually no work to do. Maybe I am just now noticing or maybe it is not big deal. We will see.
Raise Your Hand If You Love Credit Card Companies
They have more tricks than Houdini. Late charges, increased rates for any late payments, hidden fees and the like. Companies we love to hate. And they are not getting any more huggable. Congress is cracking down on them to some extent and they are not rolling over. These are companies desperate for cash and they know where to get it. What they perhaps do not appreciate is the goose that laid the golden egg thingy. People are in paying-off-debt mode and the companies that screw them the worst will be paid off first. I for one have an elephant's memory on credit card companies that put the screws to me or relatives and will never get their cards again, despite them wasting money on weekly mailings to me. I just smile as I tear them up.
The word to the wise here is to look at your credit card statements and pay them off promptly when you can. Look at the interest rate and any other charges. We are in deflationary times and the Fed is pushing zero on rates, so if you rate is increasing, you have a desperate bank trying to fleece you. Find some way to pay off the debt and cancel the card. Pay them back by never taking another card with the company. Let's boycott the bad. If the government will not take appropriate steps to eliminate some of these culprits, we need to take our own moves.
These companies abusing their clients are just sealing their own fate. I am not shedding any tears if they in fact disappear.
http://www.nakedcapitalism.com/2009/01/chase-behaving-badly-unintended.html
Disclosures: None
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