I came across a headline that read "Hawaii credit and debit card spending up 11%" This is great for Banks and Credit Card Companies and HORRIBLE for consumers, like you and I. These numbers were based off of data from First Hawaiian Bank so of course the article goes on to talk about how Sales in Hawaii have gone up and the President of FHB is quoted as saying "This is a good indication that our economy is getting stronger."
People are spending more money, great for businesses and the overall Hawaii economy. However, if people are using more and more credit cards to purchase items from these businesses, then what is that doing for the people of Hawaii? Putting our people in debt is what itʻs doing! And that is not right in my book. I would be happy to see a headline that reads "Sales in Hawaii are up, Meanwhile consumer credit card debt is at all time low!" Then our economy will be truly getting stronger.
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