The ripples caused by our flailing banking system are continuing to drown other sectors of the economy as well.
People that have accrued a shitload of frequent flier miles are realizing that they are better off cashing in those miles than holding onto them because airlines have a tendency to go bankrupt. This should cause some airlines to file for Chapter 11 before this fiscal quarter is done when they lose their cash reserves to their customers.
For a minute I just have to step back and give props to the G Dubbz administration for totally making the American economic system fucked the fuck up in less than a decade. If G Dubbz was nothing else he was expeditious.
AIrlines worst nightmare, millions of miles of liability and everyone redeeming at once. This is worse than 9/11 for the airlines, at least when that happened the rest of the economy was pretty strong and fuel only accounted for 20% of running costs. It now accounts for 60% of running costs and we have a credit crunch + recession.
honestly the whole theory about the republican party trying to bankrupt the government so it will shrink and lose power doesn’t even seem that far fetched these days…
That’s why I keeps that Capital One card with the travel points. As long a Cap Uno doesn’t fail then I’m scraight.