What you are about to read is unsourced so please don't quote me. Apparently, most Visa creditcard holders are in the doldrums and can't meet their monthly payments. So VISA might in the next few days seek a Wall Street-type bailout. For a company that holds about 40% of the world's credit card value, this is truly disturbing indeed for VISA. It is no secret that the First World (and a lot of the rest of the world, most of whom rely on mortgage companies to service their housing debt) depend on credit to survive in the middle class lifestyle. It also means that the First World is f.ucked. Take the average American family for example: http://abcnews.go.com/GMA/Consumer/story?id=5045343&page=1 If that is the case then it means that the housing market slump is a walk down a flower laden country lane on a Sunday afternoon. Afterall, would you rather pay your mortgage and have a roof on your head or would you rather pay off on a handbag purchase you made three months ago as you wined and dined a lady. Who insisted, after a few drinks, on having the latest in Haute couture as the financial world fell around you? These ladies are in most cultures called fiances. But that is neither here, nor there. Me thinks the housing crisis is a non-starter as far as the rest of the credit crunch is concerened. That is why I am so glad the bill to push a 700 billion US dollar bill on the US tax payer failed. All this this because we as capitalists failed to remember the first rule of holes: When you are in one, stop digging. Unless you are having sex ofcourse.