Latest linkdump:
- Top 10 Everyday Things People Do To Ruin Their Cars [ridelust.com]. Lots of interesting tidbits in there. [edit: link fixed.]
- The Next Meltdown: Credit-Card Debt [businessweek.com]. From the article:
"Credit-card losses are already taking a bite out of lenders' balance sheets. Bank of America, the nation's second-largest issuer behind JPMorgan, revealed on Oct. 6 that roughly $3 billion of its $184 billion credit-card portfolio has soured, a 50% increase from a year ago..."
About a year ago, when the stock market really started going down, I pulled almost all of my money out of the market and started buying CDs (thinking this would be the ultimate safe investment). I never imagined that we'd be looking at bank failures a year later. These days, we're looking at silent bank runs [charlotteobserver.com] that can very quickly sink banks. It makes me wonder if a healthy bank could be sunk these days by a media story hinting that it may be in trouble.
"Likewise, American Express (AXP), which caters to wealthier borrowers, upped its provisions for credit-card losses from $810 million to $1.5 billion in the latest quarter, a sign that even upscale consumers are having trouble." - Here's a video of a F-35B Joint Strike Fighter perform a vertical take-off, maneuver while hovering, and then vertically land [youtube.com].
That is incredible.
Labels: cars, remaindered, videos
<< Home