Credit spending and auto loans up in April. The spending was the fast increase in 10 months.

MARTIN CRUTSINGER of the AP reports; “It was unclear, however, how long the rebound in borrowing would last given a decline in consumer confidence during May that was attributed to worries about soaring prices for gasoline and other energy products.”

Further with gas prices heading to all time highs and the summer months ahead, there really is little indication of what will happen. The average price of a gallon of gas reaching $3 this leaves very little left in people’s budgets.

There has been some speculations gas could reach $6 to $7 a gallon by mid summer. If so I think you will see an almost collapse in the U.S. economy.

So let’s hope everyone who bought a car in April bought a Hybrid!

So Ralph Nader does not use credit cards. Why? Is it the for the same reasons Dave Ramesy does not use credit cards? Well yes and no. I am sure they share much of the same dislike of how credit card companies treat consumers and the hook them and gouge them business model.

The Motley Fool on MSN reports Nader as saying the following: “Well, he offered several reasons. For starters, he objects to the invasion of privacy. He also reportedly believes that credit cards increase the price of the goods we buy.”

A summary of what Nader does not like.
1. Invasion of privacy
2. Increase the price of goods
3. support big banks and their unfair lending practices, particularly to the poor and people of color.

The really said thing is at the end of the MSN article the people at Motley Fool offer you a Motley Fool credit card. How cheap. See the cheapness here: http://msnbc.msn.com/id/13047491/