Plastic could break furniture retail credit arms

[SimonPB]

interesting ...
http://www.busrep.co.za/index.php?from=rss_&fArticleId=3841682

[Brazen]

That is interesting Simon, thanks for that. Just wonder though if all that happens is that people run up twice the credit. Once on their new credit cards when the buy clothes etc, and then again when they buy furniture. It's not human nature to cut back when you're offered more, more likely to spend more.

[SimonPB]

ah yes that could well happen. An this issue of retailers now being bankers is something we've discussed here before.

[Brazen]

LOL! Yip. And at the time of that discussion JD Group was in the mid 60s.

[Day_Trader]

Well after last night's further expose on Carte Blanche I do not expect JD to make huge profits anymore... Double charging arears clients for lawyer-fees AND hitting them with 25% for that??? The new credit act is VERY CLEAR. If given reckless credit to someone who cannot afford it the that money will be written off... So I say SHORT JD stocks. There will be an inquiry into this lot.

[SimonPB]

indeed. I exited all retailers (except for pik) last year when Tito started his increases. And every one is currently higher. My logic was correct, but the market cared nothing.

[Day_Trader]

See someone is taking my short advice to heart! Down 3.8% already!