Reply #66: And follow that with the raise in credit card minimums

[knoxvilleboy]

In October, gas prices will be $3-4 a gallon. People's credit card minimums will double. The 30% or so of people who pay only the minimum will sink between the higher credit card rate and the high fuel prices, significantly higher food and heating prices. By February, the US will be sinking. A poor 4th quarter will start to sink retail chains catering to the middle/lower middle classes. Northwestern, Delta and United Airlines will go into bankruptcy.