Credit Card Debt problem "pile on" top of Housing Refinance Debt problem.....what next?

Why is it that my person BLOG (Journal) is fairly upbeat, and my personal finance BLOG can be so worried and negative.

Well, there are plenty of troubling signs in the economy....and this is yet another. Credit card debt is mounting as noted in this article.

Apparently as the home refinance crisis clamped down on home mortage refi's, and as house prices fall (making pulling money out impossible) people seem to go to the NEXT well (albeit a high interest source) their credit card! (do you suppose the next stop will be the corner loan-shark?)

This was sort of outlined in Warren Brussee's book about the Depression of 2007.....and then in his BLOG. But while the economy seems to be slowing and sputtering at times, the stock markets seem to stay high.....which makes me think a little about March 2001.....remember the High Tech NASDAQ bubble?

Oh well, there I am being negative again.

What to do, what to do......the ride up over the last year has actually been pretty good......I did go from 70% Stocks/ 30% bonds down to a 50/50 split.....so I did pull-back a little.....but should I pull even further into safer investments? I just don't know.....

Private initiative to save people from forclosure and prop-up the mortgage market.

I'm not sure about the meltdown part....though the economy does seem to limp along very badly right now.

But I just read a BLOG that pointed at this article where there is a move a foot to freeze ARM interest rates in order to save many more form going bankrupt.

Sounds like an interesting idea.....we will see what it does to the housing market though....some people will still go under when they can't see their houses in order to move for a job.

What a wonderful situation we have right now.....yuck!