VISA is planning an Initial Public Offering. Wow...and this page thought that the dot-com crash and the sub-prime mortage crisis would have made someone think twice about trying to run the American (outside of the State of Nevada) Economy on the notion of Easy Money.
Is it just me, or does anyone else see a problem with putting one of the world's easiest credit sources on the stock market? How are potential VISA shareholders going to see a profit? This page doesn't have anything close to an economics degree, but I can only see two ways: either consumer spending has to increase substantially (which given high oil prices and other economic shocks appears very unlikely in the short term), or somebody has to raise interest rates.
Of course, raising interest rates just makes it harder for working people to pay their mortgages, which in turn makes it harder for them to pay for other things, which leads them to use credit cards more....anybody have a pair of scissors?
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