{"id":190009,"date":"2010-01-15T23:30:00","date_gmt":"2010-01-16T04:30:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/15\/10\/"},"modified":"2010-01-15T23:30:00","modified_gmt":"2010-01-16T04:30:00","slug":"10","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/15\/10\/","title":{"rendered":"10%?"},"content":{"rendered":"<p>That is the <a href=\"http:\/\/www.cnbc.com\/\/id\/34876215\">current charge-off rate for Capital One US Credit Cards<\/a>.<\/p>\n<p>This means that today, with no sign of unemployment abating, over 10% of their debt portfolio is deemed to be uncollectable:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Capital One Financial Corp&#8217;s U.S. credit-card charge-offs rose to double digits in December, showing consumers became increasingly stressed in the holiday shopping month.<\/p>\n<p>In a regulatory filing on Friday, Capital One said the annualized net charge-off rate \u2014 debts the company believes it will never collect \u2014 for U.S. credit cards rose to 10.14 percent in December from 9.60 percent in November.<\/p><\/blockquote>\n<p>I used to think that the banks couldn&#8217;t lose money when they paid 3% on savings accounts and got 18% on credit cards, but now that it&#8217;s 1\u00bd% and 28%, it looks like they are going under.<\/p>\n<p>To quote <span style=\"font-style: italic;\">The Hunt for Red October<\/span>, &#8220;You arrogant ass. You&#8217;ve killed <span style=\"font-weight: bold;\">us<\/span>! &#8220;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>That is the current charge-off rate for Capital One US Credit Cards. This means that today, with no sign of unemployment abating, over 10% of their debt portfolio is deemed to be uncollectable: Capital One Financial Corp&#8217;s U.S. credit-card charge-offs rose to double digits in December, showing consumers became increasingly stressed in the holiday shopping &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,1089],"tags":[],"class_list":["post-190009","post","type-post","status-publish","format-standard","hentry","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190009"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=190009"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190009\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}