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Bankruptcy

: Arizona Bankruptcy Attorney Blog

Credit Card Debt: You Think You Got It Bad? Try Argentina!

By Joseph McDaniel, Esq.

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So here's the Rule of Unintended Consequences in action; if inflation is running at a real rate of 27% (as it is in Argentina), people will use credit card debt because they can spend now and pay later.

And thereby get a meaningful advantage in the inflation wars!

Nothing like that could ever happen in the United States, of course.

Unless we have runaway inflation.

But that could never happen here, of course.

p.s. as you read the article, you will be able to see how quickly this kind of inflation kicks in, and how quickly  people get wise to angles in dealing with inflation, like buying anything they can with credit card debt. Which is why their load of credit card debt has doubled in a year.

Contact an Arizona Bankruptcy Attorney
NOTHING IN THIS BANKRUPTCY BLOG CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY ATTORNEY WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY THINGIE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, GILBERT, CASA GRANDE, OR ANYWHERE ELSE IN ARIZONA!

Full post as published by Arizona Bankruptcy Attorney Blog on January 26, 2011 (boomark / email).

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