how has the economy play a role when it comes to people and credit cards. or better yet, how has credit cards effect the ecomony.
2006-09-25 05:01:26 · 6 answers · asked by lala_jonesy 2 in Politics & Government ➔ Government
plastic money is inflation, many people spending money they will have in a few paychecks, not what they have now.
2006-09-25 05:39:29 · answer #1 · answered by OldGringo 7 · 1⤊ 0⤋
Credit Cards have helped to increase consumer spending.
2006-09-25 12:32:54 · answer #2 · answered by shamogreen 2 · 0⤊ 0⤋
Credit Cards may be good to the economy in general. But insight it makes the individuals debt ridden and spending beyond means....its tiggers consumerisim....which will result in a very pitiable situation on the long run.....use it as a medium for immediate situation but not as a means to stay on and spend life....unfortunately ppl mistake it as a means for source of money.....
2006-09-25 12:07:02 · answer #3 · answered by Madhusudan S 2 · 2⤊ 0⤋
Credit cards help to increase consumer spending, on which our economy is dependent. It also raises consumer debt, which becomes theoretical money owed to the credit companies that have paid for the consumer goods. With heavy interest rates piled on, this increases the money that they eventually hope to get back from you. Its clever, and evil.
http://groups.yahoo.com/group/americanleftparty/
2006-09-25 12:09:25 · answer #4 · answered by ? 3 · 1⤊ 1⤋
Well, the availablility of credit cards has made consumer spending out of control, and when people can't afford to pay their bills and go bankrupt, the government ends up picking up the tab!
2006-09-25 12:07:19 · answer #5 · answered by DMBthatsme 5 · 1⤊ 1⤋
Credit enables people to buy things when they don't actually have enough money to buy them cash, so they end up spending more than they can actually afford...good for the economy, bad for the people in debt!
2006-09-25 12:08:40 · answer #6 · answered by Lee 7 · 1⤊ 1⤋