DROWNING IN DEBT

MSNBC has a very accessible (i.e. non-academic) series of articles that takes a look at how Americans are "Drowning in Debt". They have articles on credit card rate increases, how to get out from under credit card debt, and a pretty cool interactive graph that outlines the evolution of the credit card industry. They also have a good number of "credit crunch" cartoons, two of which I post below.

Here's one that shows us how the credit card industry continues to hammer away at "irresponsible" debtors after it's necessary.


Here's another that helps us understand why Congress is worthless when it comes to confronting the industry.



There's a lot more, but one thing is clear: The economy is not going to stabilize until we get consumer debt, home foreclosures, and the financial "industry" under control.

Unfortunately, we're not close to achieving any one of these three.

- Mark