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Coal from the credit card companies
Monday, May 04, 2009
It's easy to forget that most people never saw this economic downturn and financial crisis coming. Jobs in construction and real estate were plentiful and paid quite well earlier in the decade, though many more should have realized that what was happening was unsustainable.
1 comments:
On the subject of credit cards, check this out:
China has 'canceled US credit card': lawmakerChina, wary of the troubled US economy, has already "canceled America's credit card" by cutting down purchases of debt, a US congressman said Thursday.
China has the world's largest foreign reserves, believed to be mostly in dollars, along with around 800 billion dollars in US Treasury bonds, more than any other country.
But Treasury Department data shows that investors in China have sharply curtailed their purchases of bonds in January and February.
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