Financial Crisis

The retail business has been impressive, absolutely peachy. What a great time to be in it and especially juicy if you were lucky enough to have been selling, non-essential, tax-free imported bargains to endless lines of over-extended, credit card junkies. Ahh, those were the days which we thought would never end.

Now, I'm not saying that it been easy. Business has never been easy; still you've got to admit it's been a wide open shopping spree for last decade. It looked like there was no down side. I'm sorry to say, but, weather we've been aware of it or not, we have all been complacent in the biggest "easy credit rip-off" in the history of the planet and in the following nose-dive and belly flop of the world economy.

For several years now, the affluence of our county, the true base of our economy, the savings and equity of the US people has been quietly pillaged. With the inherent encouraged by the government, wall-street, the banking system and the credit card companies, the American public has been happily charging itself into the poor house. Many or more frankly, most of us have been enthusiastically involved in the scam.

We have, all of us, to great extent, been living past our means; too many have been maxing out our credit cards and getting caught in the dreaded minimum payment undertow. And then, think! To get out of the credit card trap, why not take a "leader" loans on our real estate. That's the permit, then either not read the fine print {shame on you} or hope we'll get lucky before the roof falls in, but then what? Of course, max out the credit cards again. Gee, it just sounds excellent not to go on forever.

If you have recently been revitalized from an extended coma resulting from looking at your 401k statement, you may still be too confused to have notice that the world has changed, and that it may never be the same again.
Where did all the wealth go? Who is that guy headed for the farm? No wait a minute that's for another article.

To tell the truth, we, as retailer got some of the treasure, just the crumbs, of course, for doing the heavy lifting. Now we must find ways to hold on to our minute allowance and prosper into the future. Last year's business model may be as dead as a doornail. Many of you have noticed the changes in the wind, smaller crowds, smaller tickets and old customers not coming around as often. There is no end in sight. The card business will surely be in cry off for some time to come for most segments of the retail world.

Well, here we are sport fans, so what now?

Well one of the stuff I just loved about this whole fiasco was the way the credit card companies start off charging us, the retailers, a healthy portion of every transaction, it's been like having a second landlord sucking on your neck.

Setup a credit card processing merchant accounts to accept credit cards today!