So, unemployment claims go up every week, not expected to stop for another month or so. Looking around, it's increasingly obvious that people to have money to do things as usual any more. What do credit card companies do? Raise your APR. Now, to make up for the fact that you probably can never pay more than you minimum payment, they'll just ensure they still make money off of you by generating more interest.
This, of course, is the way of a free market. It may look predatory, but it's business, and, somehow, we all were supposed to factor the current economic situation into our thinking years ago when we signed up for these cards. It is of little wonder why they call it a Depression.
Yes, I am saying we're in a Depression. As soon as the Chinese have to create a stimulus bill, the recession has sunk too far.
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