Thursday, March 28, 2024
Miles from the Mainstream
D. R. ZUKERMAN, proprietor

Calling All Credit Cardholders

SEPTEMBER 3, 2008 --

We need to organize if we are to have any hope in restraining the presently out-of-control credit card companies and banks. As suggested by Yahoo, people are tearing up their plastic, for cash.

Doesn’t that indicate consumer spending will be going down – unless prices also go down? Could it be that the gravest threat to the economy comes from the out of control credit card companies, and not from oil price hikes?

The executives in the corporate suites apparently don’t recall Lincoln’s observation, in brief, that all of the people cannot be fooled all of the time. With the oil price hikes, the people cut down on gas. With the predatory policies of the credit card companies, people are likely to put an end to using plastic.

And how about The New York Times going to $1.50 for the daily paper and $4.00 for the Sunday edition. Is the Times planning to close down its print operation?