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While the banks may be ignoring the [url=http://www.anepf.fr]doudoune moncler[/url] recent protests in Washington, the next wave of protest brewing in the middle classes of America will certainly catch their attention.

According to the Federal Reserve, Americans currently hold more than $780 billion dollars in "revolving" credit card debt. "Revolving" debt is when the card holder pays only the minimum payment every month.

And many Americans who need help with debt are coming to the conclusion that making even the minimum payment [url=http://www.davidhabchy.com]barbour sale[/url] is a waste of money.

The average interest rate charged on credit cards in the United States is 17.99%. A significant number of people are being charged higher rates ranging up to 29.99%.

While many states have usury laws that limit the interest that can be charged on a loan, national banks are allowed to ignore the state laws. Getting out of debt becomes very difficult when rates are that high.

"That's why there's so much revolving credit card debt still out there," said Naomi Sharatt, an independent financial adviser in San Francisco, California. "The interest rates are so high that even if a person makes the monthly minimum payment and spends nothing on the card, they will never get out of debt."

The Federal Reserve's credit card calculator backs her up -- high [url=http://www.corsodiesperanto.it/peuterey.php]peuterey outlet[/url] balances and high interest rates can never be paid off.

This would be galling enough for most tax payers, but it is made much worse by the special treatment the banks [url=http://www.marrakech-hotel.fr]hollister france[/url] got from the government during the financial crisis.

Acting on instructions from Congress, the Federal Reserve made over $1.2 trillion in secret loans to bankrupt banks.

And what interest did the banks pay on those loans? Less than one half of one percent.

So while the banks charged their customers an average rate of 17.99%, they got taxpayer money for 0.5% or less. This point is not [url=http://www.riad-marrakesh.fr]abercrombie pas cher[/url] lost on the average taxpayer, especially those facing credit card bankruptcy.

Several sites on [url=http://www.diecastlinks.co.uk]hollister outlet[/url] the internet have begun to empower people who feel that way.

Some, like the widely used [url=http://www.shewyne.com/woolrichoutlet.html]woolrich sito ufficiale[/url] DebtProtest.com, provide people with a complete [url=http://www.teatrodeoro.com/hollisterde.php]www.teatrodeoro.com/hollisterde.php[/url] analysis [url=http://www.par5club.com/louboutin.php]louboutin pas cher[/url] of their own personal debt situation, along with a plan for getting out of debt within the next six months.

DebtProtest.com quotes several government reports and provides graphic examples of how [url=http://www.mxitcms.com/abercrombie/]www.mxitcms.com/abercrombie/[/url] individuals became trapped in debt -- and how to get out.

A spokesperson for Triumph Media LLC, which runs DebtProtest.com, said, "We've seen a huge uptick in demand for our products. Americans are disgusted by the way the banks have been bailed out for nothing while they are still being charged outrageous interest rates and fees on their credit cards."

"The question we have," said Karl Langford, a 63 year old protester at an anti-Wall Street rally in Tiburon, a small [url=http://www.jeremyparendt.com/Barbour-Paris.php]barbour france paris[/url] town in northern California, [url=http://www.corsodiesperanto.it/woolrich.php]woolrich outlet[/url] "is why Congress will do anything to help the banks, but it can't do a single thing to help us."

While the protests in the streets might be easy for the banks and the politicians to dismiss, it will be much harder for the banks to ignore the groundswell represented by DebtProtest.com and the Wall Street Protesters. Widespread defaults on that $780 billion of revolving debt may be part of the next economic cycle.
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