I guess you missed my point that it's not justice at all.

the pro-business camp is gonna hate anybody who insists to reduce credit card activity. to them the faster money circulates (through credit "facilitation") the faster they can accumulate profits.

Think of it. Once upon a time it took generations to build a fortune (unless you struck oil or gold or both). You had so much you could invest in your store, and a limited amount of profit that could be allocated to expansion.
It tok time to build that trickle into a river of profit, as ordinary folks could only spend what they had in their pockets (barring recourse to loan sharks).
Now it's all on credit. I remember going to a car dealership in the early 90s in Italy. I tried to haggle on the price on the basis of a cash deal. The dealer looks at me and goes "Dude - I make even more money if I talk you into a loan..."

In the consumer goods industry things really took off with the expansion of easy credit. That's the problem - past, present and future.
If credit availabilty contracts, many volume businesses simply can't survive, and you can easily imagine where that takes us to.
More layoffs, less profitability, probably end prices will have to adjust to higher levels, etc.

Paul

Good article about the US obsession with 'credit' & not 'savings' (which generate credit in the first place).

The author thinks this obsession is a disease like cancer, which has to be diagnosed & cured in the early stages else the US economy shall be left with little hope to survive.