Originally Posted by Caligari

http://www.nytimes.com/2010/04/11/bu...y/11rates.html
Interest Rates Have Nowhere to Go but Up-
"Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates..."

I don't know about this "brightening economy" thing, but I thought interest rates sucked to begin with, and now they are going to rise even more? "Federal Reserve reported that the average interest rate on credit cards reached 14.26 percent in February, the highest since 2001."

14.26 is completely nuts and if this continues to rise how exactly is the economy going to "rebound?"

Not trying to sound alarmist here, but if things are tight now this can only further constrict the spending noose...