People Still Spending More Than They Can Afford?
It was recently reported that the post Thanksgiving shopping day had another high turn out as in every other previous year. While it is good to see that people are getting things for their family and friends to give as gifts this holiday season (or perhaps splurging on the deals for themselves), one has to wonder whether Americans are truly addicted to spending beyond their means. Given the record low levels of available credit, and various reports that credit card companies will be slashing their high limits across the board on various consumer loans, one wonders how prepared consumers and the economy will be after the holiday season and come January. Bankruptcies may go higher once again as the economy seems to be remaining in a downward slump for the time being.
