If you live in the US of A , and the rise in interest rates has hit you in you credit card....
Help is at hand with a site devoted to identify how you can choose a credit card and take part in what the Bank for International settlements calls ..."extraordinary opportunities to expand personal debt. "
As the intention of the site is to flog you a credit card, beware .. it does say on the site ..
© 2000-2007, Nationwide Card Services, Inc. Publishing or distributing content without the expressed written consent of Nationwide Card Services,Inc. and/or our partners is prohibited.If you want to enjoy the "Enjoy the prestige of Platinum with no up front fees" pay 14.9% APR and an Annual fee of US£45 ...go ahead.
Can't understand why interest rates are rising ? here is a hint .... how many Euros your dollar will buy.
..or in plain English the 10-year U.S. T-Note (Treasury Bills) gained 39 basis point during the second quarter of 2007.
But don't worry your pretty little head about it ... it's not your fault.
"Alan Greenspan played a major role in the housing boondoggle. On February 26, 2004, he said, "American consumers might benefit if lenders provide greater mortgage product alternatives to the traditional fixed rate mortgage. To the degree that households are driven by fears of payment shocks but willing to manage their own interest-rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home."
Presidential candidate Rep. Ron Paul (R-Texas) last week said:
"From the Great Depression, to the stagflation of the seventies, to the burst of the dot.com bubble; every economic downturn suffered by the country over the
last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and artificial "boom" followed by recession or depression when the Fed-created bubble bursts".