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Message: Credit Cards for food?????
The 70% Consumer Economy is More Dependent on Credit Cards for Basic Goods
According to a recent report by First Data Corp, Americans are increasingly turning to credit cards to purchase food and fuel. The dollar volume of purchases charged increased by 10.7% in the last year. The number of transactions also increased by nearly 7% showing that Americans are using their credit cards more frequently to purchase everyday items. This is a trend that we see happening as joblessness rises and price inflation moves ahead of wages for those that do have jobs. >FutureMoneyTrends.com believes that due to government and media propaganda, Americans are currently experiencing the illusion of a recovery. During the last deep recession in the U.S., the recovery saw GDP grow at 7.1%, however, the current fake recovery GDP growth printed at 1.5% in the second quarter.
This of course includes government spending which is borrowing 40-50 cents for every dollar spent, rent free living for millions of Americans, 99 week unemployment compensation, record breaking entitlement spending, a contracting adult workforce, unprecedented bailouts, and who could forget the monetization of our debt by the FED. We bring the question of recovery up because it is important to base your financial and life decisions off of the truth.
Nothing angers us more than seeing millions of people make decisions because they believe government propaganda touted by the media as fact.
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