Wednesday, September 28, 2005

Cost of gas

Hit by rising gasoline prices, a record percentage of credit-card accounts were delinquent in the second quarter, the American Bankers Association reported Wednesday.

The ABA found that the 4.81 percent of credit-card accounts had payments that were past due by 30 days or more between April and June. That's up from 4.76 percent in the first quarter, which was the previous record. The ABA started tracking delinquencies in 1973.

The ABA also noted an increase in delinquent payments on personal loans, auto loans, home equity loans and lines of credit.
Link, from CNN Money

This is just the first hint of a dust cloud on the horizon, not yet arrived, but we know it is coming.

Adjustable rate mortgages on the rise and higher fuel and heating costs put the vice grips to the working classes, many of whom commute long distances to work in areas where they could not afford to live. The insatiable right wing business leaders must have seen this coming when they, and their acquiescent Democratic allies, rammed through the bankruptcy bill to make sure they would be able to wring every last cent from catastrophically indebted families. Most of these people are worn to the bone already by long commutes and fear of losing their jobs through downsizing, refusing to sleep with the boss, being late because of one too many times caught in stalled traffic, exploding in the face of a vicious and unreasonable supervisor (also afraid for his/her job), and whatever and when you take their credit away and make imminent the threat of losing a home, who knows what can happen.

Take away all the small perks, the credit, the lifelines to security and the dreams of owning, keeping and retiring in a home, in short all the things that generate a vested interest in the status quo, in a stable society, and contrast this drastically reduced sense of well being with the well publicized, ever growing, extraordinary wealth of the bandit plutocrats and you begin to assemble the ingredients for chaos.

You would think these pricks could overcome their greed with a little foresight and recognize that more prosperous, more secure middle and working classes would ensure stability and the longevity of their own privileged positions. You'd think they'd let a little more trickle down so we all could keep a comfortable few steps ahead of the monthly bills.


Anonymous said...

A nano sleeve you might want
The nano Wrapper is a "super slim, stay-on tube with access to iPod nano hold switch, dock connector and headphone jack, made from Wrappers' exclusive treated faux suede fabric designed to add scratch ...
Find out how to buy and sell anything, like things related to music on interest free credit and pay back whenever you want! Exchange FREE ads on any topic, like music!

Anonymous said...

Just thought I'd let you know about a site where you can make over $800 a month in extra income. Go to this site   MAKE MONEY NOW  and put in your zip code..... up will pop several places where you can get paid to secret shop, take surveys, etc.  It's free.  I found several and I live in a small town!

Online Incomes said...

Nice blog, keep up the good work!
I have a blog/site toochase home equity loan
It's a free information site on on home equity loans and refinancing. It can help you save money if you are in the market for a loan.
You should check it out if you have the time :-)

kats blog said...

Hi I was just blog surfing and I found You! nice blog!
I have a equity florida home loan site/blog
It's a free information site on home equity loans and financeing
You should check it out if you get chance :-)

Johnny said...

Hello, just visited your blog, it's geat. I also have a cheap loan related blog with some useful articles about the topic. Hope that it is helpful to you.

De Post Man said...

Informative post. Take a look at my credit site ( ) f you can. Thanks credit report rating

Anonymous said...

Hey, you have a great blog here! I'm definitely going to bookmark you!

I have a Loan site/blog. It pretty much covers Loans related information. We provide online applications, business, residential, we do all loans.

Come and check it out if you get time :-)

Anonymous said...

Very intersting bad credit loan blog. You might like this bad credit loan site helpfull : ****

Anonymous said...

Hey good post. Look at my site if you can. Thanks! money home

Raven said...

Cool blog, i have a home equity loans site check it out here at home equity loans find out information that will help you when getting a home equity loans

Anonymous said...

Great Blog! I would like to let your readers know about a site that can give them a FREE Instant Auto Loan Quote. Just Enter Your Zip Code!
You can check it out at:

Debt007 said...

I find your blog very informative, I was looking for remortgages related info and found you. :)

Home Equitys FAQs

Anonymous said...

Hey, what a really good stated income home equity loan blog you got here! Keep up the good work. I too have a stated income home equity loan related site that I think would be of interest to your readers. Would love your feedback

Anonymous said...

good resource here. I would also link to auto wrecker

Anonymous said...

Great blog with some useful info on credit equity home line online rate. I have a credit equity home line online rate themed site you and your visitors might find interesting. I'd love for you to check it out.

Anonymous said...

Hey, I go to see you blog everyday and you have a great blog here! I'm definitely going to bookmark you!

I have a used car loan site/blog. It pretty much covers ##KEYWORD## related stuff.

Come and check it out if you get time mate :-)

Goodman441 said...

Hello, this is a great blog on va home loan, Please visit my site when you get a chance at

Anonymous said...

Want a free ipod nano? visit free ipod nano

Anonymous said...

Hi I just came across your blog about settlement loan and wanted to drop you a
note telling you how impressed I was with the information you have posted here.
I have a settlement loan. It pretty much covers settlement loan related stuff.
so I know what I'm talking about when I say your site is top-notch! Keep up the great work, you are providing a great resource
on the Internet here!


Gus Skarlis said...

Wow... great blog!

Have a look at mine. It's about Donate Vehicle

Donate Vehicle

Anonymous said...

Shop at your favorite stores 24 hours a day. Why go to the mall when you can shop online and avoid the traffic