Blog on financial, economic & monetary issues with a focus on gold & silver.
Sunday, March 14, 2010
Credit Card holders are dumping debt
Further to yesterday's blog on Debt statistics published by the Federal Reserve, here is more proof that one needs to be careful how to interpret articles that have lots of spin. This article from MarketWatch says that 90% of the reduction in credit card debt is due to credit card holders just walking away (defaulting) not from repaying amounts owing. Read the article here.