I am not an Economist and hate to pronounce on this matter. However, I do believe that the next fiasco to hit this country will be the credit card issue. With the housing crisis at least the homeowners had to have some income, work history, etc. to qualify. The credit card is utterly shameless and unscrupulous in the way it goes about extending credit. My college age daughter with no job has been bombarded over the years with credit offers. I know of many college kids who are over their heads in debt. I have co-workers who have five or ten credit cards with cumulative credit limits that exceed their annual income. The list goes on.

Am I being paranoid or is this a time bomb waiting to explode? What do you economists and financial wizards think?

The Credit card Crisis may be linked to the housing Crisis. Many borrowed against thier socalled equity and spend like drunking Sailors.