Comments for Use of Credit Card in Brazil Jumps 25% to US$ 50 Billion at http://www.brazzilmag.com , comment 0 to 4 out of 4 comments http://www.brazzilmag.com Mon, 08 Sep 2008 02:38:27 +0100 FeedCreator 1.7.2 http://www.brazzilmag.com/content/view/9240/1/#pc_14584 The problem with sub prime mortgages is low income people were sold homes they couldn't afford. Most were sold with no money down. Both Clinton and Bush bragged about record number homeowners in the US as if it was some kind of achievement by them. Basically, the government coerced banks into loaning money to minorities to encourage home ownership.Banks who used common sense were called racists for "redlining". When the interest rates in the sub primr market adjusted people saw their monthly mortgage payments rise by 20 to 30%. That's the monthly layout on a home owned for only a few years. If the rates jumped on a home with a 30 years mortgage that had 5 years left the payment might jum just a few dollars. When people buy homes beyond their means because they were encouraged by predatory lenders they just walk away and let the bank take it when the rates adjust. After all, they have no investemt in the home and they have no equity either. Other than that our economy is fine. Unemployment is low, the markets are doing quite well. But perception is everything and the media succeeds in painting every aspect of our society in a bad light. Everything is a "crisis". Health care "crisis", oil "crisis", stock market "crisis", enviornmental "crisis". The list is endless. - Mike Fri, 30 May 2008 01:25:37 +0100 http://www.brazzilmag.com/content/view/9240/1/#pc_14040 usar o cartão é fogo dindim vivo é o que dá prazer os garoto de programa num aceita cartão é só pagar na vista ;D - KENDRA LEE Fri, 11 Apr 2008 19:43:49 +0100 http://www.brazzilmag.com/content/view/9240/1/#pc_14029 as being a good thing. Why do people think the U.S. economy is in the funk it's in right now? Loans. Credit. And with inflation and interest rates in Brazil? This subprime mortgage deal in the U.S. was due to just 1-2% change in interest rates per YEAR.....imagine when the interest rates rise by 1-2% per MONTH here in Brazil and people have amassed all this debt..... - bo Fri, 11 Apr 2008 07:35:01 +0100 http://www.brazzilmag.com/content/view/9240/1/#pc_14028 Everything jumps in Brazil, including food prices. As our beloved Prez said in Holland, our poor are eating better with all the money they are earning, thus driving up the inflation rate. I wish the poor contribute to bringing down the inflation by eating less. - João da Silva Thu, 10 Apr 2008 21:52:36 +0100