GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Huge Credit Cuts to Consumer Credit Cards = Bad News for Porn Industry?

Sly · 12-01-2008, 08:03 PM

Quote:

Originally Posted by pocketkangaroo

Meredith Whitney is one of the few analysts I respect in the financial field. She has basically been right about everything so far. She came out the other day and said that credit lines by banks will decrease by 45%.

http://www.reuters.com/article/marke... andChannel=0

Now that's a huge amount. You are essentially cutting half the available credit out of the consumer market. This would seem to be a bigger blow to porn (and any online sales industry) than unemployment, inflation, etc. If people don't have the credit to buy stuff, they can't put on those porn memberships.

How big of an impact do you think this will have?

I would think that it would be dependent on how high they ride their credit card. I never use my credit cards past probably 25%... now I know that a lot of people max them out and use them to their fullest, but a lot of people don't. If my limit was dropped by 50%, it would not affect my monthly spending on said credit card one bit.

In fact, I just had a credit card drop my limit by about 60% two weeks ago. It won't change my spending at all, I barely use the card as is. From the various people that I have been talking to, I think more people are willing to cut back on spending that they don't necessarily need... for example, gym memberships they don't use. They still buy the things that they want though. People will learn to be more frugal.