MSNBC's The Red Tape Chronicles has an article about how America's love of credit cards and credit in general has led us to a tipping-point where we are spending far more than we are making. Income is pretty level--if not dropping--while our spending keeps increasing. That is not news in itself, but now they are thinking that the market could collapse at anytime given the state of the current economy.
http://redtape.msnbc.com/2008/10/credit-cards-at.html?GT1=43001