Our financial system is crumbling this week.

[KyCardinalFan]

I would bet not too many people would've thought to look in the financial thread for a drunk post.

[docellis]

I would bet not too many people would've thought to look in the financial thread for a drunk post.

lol

[heyzeus]

The market is up 570 points today! Economic crisis solved! BUY BUY BUY!!!!


(15 seconds later)

Oh my god, I'm ruined.

[TimeForGuinness]

The market is up 570 points today! Economic crisis solved! BUY BUY BUY!!!!


(15 seconds later)

Oh my god, I'm ruined.

well it's up 700...but i think this is a sucker's upswing.

[heyzeus]

http://sadguysontradingfloors.tumblr.com/page/1

[InvincibleCakeEater]

http://www.sadtrombone.com/

[TimeForGuinness]

Closing up over 800 points...nice.

[Freed Roger]

http://sadguysontradingfloors.tumblr.com/page/1

happy guys on trading floor

sad sad happy happy sad sad happy happy. such is the life on the floor.

[Freed Roger]

I posed this question on another thread (Where is the bottom?), but will ask again here:

I'm curious about is the state of credit card debt. Surely repayment of this debt is slowing and the debt level is going up. But I haven't heard much in the news.

How long can credit card lenders hold out with sluggish payment and default?

Or just as concerning, what happens if/when the availability of individual credit cards diminish? Won't spending come to a grinding halt?

Is this another time-bomb?

Finally some info on this topic. Shockwaves are being felt. GRB was onto this first.

http://redtape.msnbc.com/2008/10/credit-cards-at.html

[Diddy]

I think i caused all of this problem with the credit industry. I got my latest credit card statement and it was quite a bit bigger then i was expecting. Upon closer inspection i forgot to pay last months bill. First time ive ever missed or been late on a credit card payment and look what happens