Park East Capital: Credit Card Defaults Easing In The U.S.


26 Aug

Park East Capital, Data this month indicates the U.S economy is in better shape.

Credit card defaults in the U.S are beginning to stabilize according to the data from last month.

Park East Capital reports that after the economic slump and millions of job losses show that the U.S economy is slowly getting better as credit card defaults are not has high as predicted.

Sources from Bank of America told Park East Capital that the rate of defaults have dropped giving hope that the economy may be in better shape then previously thought.

Park East Capital analysts have been reporting every month this year on the rise of defaults, this months news that they have eased indicates that the economy is getting back on its feet.

Although the outlook seems better there is still an amount of caution in the industry, consumers are paying of the debts but the situation is very fragile and it could easily be rocked.

Sources told Park East Capital said that there is a concern with Christmas coming up, but Park East Capital feels the biggest concern is that there may be another wave of defaults coming as the effects of the recession come in. The current range of defaults are linked to the sub prime problem and the recession may pose more problems later on this year.

Overall though we should be positive, the economy is getting better and people have weathered the worst up-to now showing resilience to get through the recession.

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