Newsflash: Credit Cards in Trouble

Last week Barron’s waxed delusional about the S&P 500 (as I wrote here), and this week it’s the credit card industry that it has newly discovered. And, get this, the credit card companies are set to struggle, what with consumer weakness plumbing new depths.

Beware the House of Cards.
With unemployment climbing, late payments on credit cards are about to go through the roof. Investors beware: Card stocks may not recover anytime soon, Barron’s report.

Gosh. Thanks Barron’s. This sort of market-leading analysis is why we turn to you on a weekly basis. Or not.