Quote:
Originally Posted by SaintessHeart
Well with less employed people around, they would issue less credit cards, and they would be earning less because there are less subscribers to earn interest from.
Then they would raise credit interest rates, sending another group of people into debt, and with less earning they will need the Fed to bail them out again.
Sounds like a pretty retarded self-destructive cycle, doesn't it?  |
The likely reasoned that only employed people can pay the debt back, whereas unemployed people would mean they would only make losses out of them. Very simplistic and erratic thought process, I would say.