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Credit Card Breakdown: AmEx Disappoints, as Predicted

They are making a lot of money from merchant fees. They are serving affluent consumers. They are charging killer rates. The use of plastic is going to grow compared to cash. This company is being valued as if it were a business which is going to disappear. If the defaults continue rising they will raise rates and fees. V and MA are in a better condition now but they are fully priced and might come under additional pressure for monopolistic practices. Defaulting on credit card is harder than walking away from the home with negative equity, cause you have to continue to buy everyday's stuff. Doomsday sayers will know the wrath of rising markets one day. Excellent companies like AXP will blow short sellers away