The credit crisis was a ticking volcano which finally erupted,showering the world with high-speed avalanches of “hot ashes” and “rock fragments” which I refer to the fall of the major investment banks in US and also the CDS issue AIG faced.
The world Economy is already taking a 9G roller coast ride and predicting the future of how the economy market will rise back to its once colossal status seems grey. What the consumers can do is wait and delay all luxurious items, they intend to buy and many have turned to selling off their properties at slashed prices just to cover the paper loss incurred during the economy down-fall.
What could you have done to keep your own pocket free from unnecessary spending? If it was not for the economy down-fall, I would not have realised that each year, my credit card statement would have stated an amount of $260.40 which I could hardly recall spending under one receipt since I do not use that platinum card often.
I quickly called up the bank and queried on an unknown amount of $260.40 in-printed on my statement which I found it amusing and uncalled for. The customer officer said that it was an annual fee paid for the benefits and services provided by the bank and it was then, i remembered paying the same amount for the past two years already and incurred a loss of $620.80 unknowingly.
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