Wall Street Change offers simple, logical solutions to tough economic problems
that appear to have been caused by Wall Street Investment Fraud.

Friday, January 30, 2009

Legitimate Bills versus Outrageous Credit Card Interest Rate Charges that are Wrecking the Economy and Causing Unnecessary Despair.

Since Wall Street called a timeout last September, and with the Super Bowl right around the corner, I was wondering who will call a real time out for the american consumer? A real time out involves the suspension of interest charges on all unsecured debt, also known as Credit Card Debt.

I see Barack Obama madly spinning his wheels to try and inflate the american economy with a bicycle pump, and I find it embarrassing. Meanwhile, the made in China toy you purchased a couple of years ago is still on your credit card racking up obscene interest charges.

The toy that should have been made in the United States by an american, but instead was made in China, has now cost you MORE because of ongoing interest charges than if the toy had been made in the United States and you purchased it with cash! The net result is you bought a "cheaper" toy for more money than if it had been made in the United States, and no american labor was involved in the making the toy you bought, so that is one less wage earner in the United States to buy the products that your company makes. What doesn't go around, doesn't come around.

Being a great leader involves recognizing when your own actions are trivial compared to the will and power of the people. All Barack Obama has to do is waive the interest charges on all credit card debt for anyone trying to pay down their debts. Tie it in to a consumer debt reduction plan so that people don't just mindlessly run up even more debt, but actually get rewarded for paying down their debt, and you will see the economy come back to life all by itself.

Barack Obama talks about having spoken to people all over the country while running for president, yet you still think the men in suits have all the answers. The same people that gave themselves 18 billion dollars in bonuses from the bailout money you already handed them may not be the best source for solving the problem they helped create.

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