Gotta Luv Dem Banks
From Yahoo Finance,
Get used to being nickled and dimed by the banks (even more than usual), says Diane Garnick, investment strategist at Invesco, who notes deflation has hit every other asset class in the past year, save ATM fees.
“We’re going to get hit with all of these small fee coming from the banks,” she says, noting banks’ institutional customers are both smaller in number and much more cost conscious after the credit bust. “The way we’re going to see these fees really come about will be on the retail side.
They’re saying, the people who borrowed from Mastercard to pay Visa — the little guys — we’re going to bump those fees all the way up.”Higher credit card fees: Think of it as just one more way of Wall Street .
No problemo, Kemosabe. I’ll just stop using those services and get back to a cash basis. You want the economy to improve? Then squeeze the shit out of the little guy who’s already in hock up to his ears. Here you got Bernanke who’s trying to pump out more consumer credit, and the banksters who are trying to end it. That’ll work.
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