End of the Credit Crisis

Just as the arrival of robins heralds the coming of spring, there are similar early signs to signal the end of the debt and credit crisis that began in 2008. It doesn't take any deep investigation or appeals to the prognostications of economists or retrospective economic indicators. It came unlooked-for in my mailbox on Monday morning.

Among the bills and junk mail (which is about all that snail mail is still used for) there were two envelopes of note. I didn't even have to open them to know what they meant. Both contained invitations from American Express to, you guessed it, sign up for an Amex credit card.

Enclosed in each was a thin faux plastic replica of a credit card with YOUR NAME HERE where the card holder's name would ordinarily appear. There were promises of air miles and other temptations. What was most noteworthy is that I have not gotten one of these once-regular mailing from Amex in a long time: not since before the credit crisis ramped up to maximum intensity. Apparently the credit card companies and their bank partners now believe that I am ready to lever up again with consumer debt. Six months ago they would have been tossing application forms into bonfires for fear that someone might find one and send it in for processing.

I have enough credit cards, and faux credit cards like those they sent me this week. I keep a few of the faux cards around because they have just the right combination of resilience and flexibility to slip the latches of locked doors for which the keys have been misplaced (yes, this really does work if you know what you're doing). Unfortunately I have more of these than I require so off to the trash they went. The envelopes and the rest of their contents went into the black box for recycling.

I don't trust politicians, bankers or economists that sing the praises of the economy. But when Amex comes knocking, that's when I believe.