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Credit bureaus will be the major cause of the recession.

Credit bureaus are one of the greatest scams ever put over the American public. They have one goal,and only one goal,to make the rich richer and to keep the little guy floundering. Even though it is known credit bureau information is wrong 50%-75% of the time, most lending institutes use their false and/or misleading information as the holy grail.
No longer is a personal relationship with a bank or lending institute mean anything. Credit scores, the holy grail of lenders, are the only thing that counts. Remember when you always paid your bills on time, you could count on your lending institute in a time of need.That no longer matters. Remember when a lending institute could understand a financial crisis and allow a missed payment with no repercussion. No longer does a lending institute care about human needs. They only care about one thing, the almighty dollar. Take a major credit card company, Capital One. They promote customer service as their number one goal. This is a myth. Miss one payment, even if it is a simple oversight ( Ever miss a payment by mere oversight?) they immediately contact the credit bureau that a payment was missed, and it is on your credit report for 7 years!( You may not even realize you missed a payment or it could have been delayed in the mail.) This reduces your credit score for 7 years! This allows Capital One to increase your interest rate! This allows other lending institutes to increase their interest rates! This makes it harder for the average American to borrow money in the future!

Now, what if a bank runs into a financial crisis? The government bails them out with extremely low interest loans. If a major corporation runs into a crisis, they issue more stock. Now, if the average American, the backbone of our great country, runs into a financial crisis,he is at the mercy of a non-caring credit bureau who looks at some obscure set of formulas to achieve a credit score that is not based on how well bills are paid, but on factors that have nothing to do with current bill payment history!
This great country of ours is headed for a recession, the likes it has not seen in ages. Most people in the government know this all to well, so they fudge the government figures to make the average American feel everything is OK. Why else did the fed cut the prime rate by half a point? (This move was really to help banks and large corporations.) The stock market

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