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“… Credit-card debt rose by $8.7 billion, or 11.3%, in November to $937 billion after an 8.6% gain in October. It was the biggest increase since May and the fourth-largest gain in credit-card debt since the expansion began in November 2001.
Some economists say consumers are using their credit cards more because they can't tap their home equity as easily as they could a year or two ago….”
“ In general, bankruptcy policy should be more pro-debtor if hyperbolic discounters wish to control their borrowing behavior, since lenders supply less credit under a more pro-debtor bankruptcy policy.”
“… an appropriate policy response to this kind of overborrowing must both discourage hyperbolic discounters from borrowing too much and penalize lenders who take advantage of hyperbolic discounters’ tendency to overborrow.”