Why do we continue to hear that credit markets are tight?
Because they are, and will continue to be that way.
The nation is going retro by lowering consumer debt, and adding to savings accounts. It is a big step toward personal economic recovery. Living within our means, or even a bit below, is how the U.S.A became the World Power that it is.
As more people are able follow this path, there will be less need for credit, and the supply of credit will level off with the demand. An individual's best control over the credit market is their personal discipline. In the future, those that struggled long and hard to pay off credit cards, will likely not go into credit debt again. If there is no credit debt, the effect of credit markets struggling will be of far less concern.
There are always inflation concerns when credit markets are manipulated to lower rates, and with good reason. Click here to view an article from Reuters regarding credit market concerns of increasing rates at the Fed. TARP is winding down, and it is likely that it will lead to money potentially becoming available for other industries in need. Click here for more info.
Credit Card Shoppers. Here are a few tips for the holiday season. Avoid applying for new credit in the malls, as adding new credit cards is likely to lower your credit score. The short term savings may very well end up costing you more in the long run. Click here for more tips
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