Saturday, December 6, 2008

Hold on to cards.

Credit card companies are about to create the next wave of problems, with a $2 trillion cut in credit lines. The only reason things have survived to the extent they have is because of what little credit people have remaining.

I'm frustrated - but not surprised - that people are mistaken enough to send retailers up. Abercrombie is a joke at five times earnings. It needs to be less than one!

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