Adam Axler

Credit Card Spending Surges, While Retailers Slump

Bill, unlike the other box discounters you mention, Kohl's got hammered last quarter (revenue down 27%). DP makes the proper distinguishment from credit cards issued by banks and simply those that make money off merchant fees (Visa, Mastercard). Credit cards tied to actual banks like Capital One have daily increases in delinquency rates....

American Express: False Sense of Security?

I certainly won't. AmEx is a better business than COF, which has seen a 33% rise in shares over the last 3 months, and has much greater exposure to auto and even home loans. The American consumer is broke. I don't know why there is any optimism about the consumer to take on and pay debt.