Gearfuse

Credit cards don’t mean much these days. For awhile they were so easy to get and use, despite your financial situation, that they have become a second currency, albeit a worthless one. Made using thousands of credit cards, freecards, discount carts and gift cards, the Credit Card Rainbow displays the varied colors of debt, in all of its majesty.

Commissioned by Graphic Design Museum in Breda, the Netherlands, the rainbow will be on display until September 2009. So, this is how worthless our credit system has become. But hey, at least it’s pretty! Close-ups after the jump.

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Have a spending problem? Recession got you in a pinch? Go grab your wallet and your iPhone and I’ll teach you how to kill two things with one stone.

Grab two credit cards from your wallet, preferably the two that still need to be paid off. Good, now get some scissors ’cause you’re cutting these fuckers up. Follow the instructions from TheCase’s Flickr gallery and you’ll have a portable, wallet-sized iPhone stand in no time. No longer will you have to get your hands all sweaty while watching a movie; just whip out your stand and throw down. And your debt? Well, you still have to pay that off but at least now you won’t acquire any more of it.

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The AP is reporting that Liberty Media, who had previously expressed interest in Sirius-XM, has signed a deal where it’ll invest $350 million in the failing satellite radio company. This comes right in the nick of time; Sirius had $175 million in bond payments due today, which would have no doubt sent the company into Chapter 11 bankruptcy. Instead, Liberty Media is going to get 12.5 million shares of convertible preferred stock, worth about 40 percent of the company’s common stock. Additionally, two seats on the board will go to Liberty Media, giving it quite a bit of control over the company.

As for current CEO Mel Karmazin, it’s only a matter of time before he’s outta there. Since the merger between Sirius and XM, Karmazin has failed to have the company turn a profit, leading to a lack of investor confidence and a couple close scares. Let’s hope that Liberty Media can stop Sirius-XM from bleeding cash; especially from that $500 million Howard Stern deal. Shareholders, you can breathe a little easier today.

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So you’ve got the debt-riddled satellite radio monopoly known as Sirius-XM and you’ve got veteran satellite pioneer EchoStar. EchoStar is trying to buy Sirius-XM but the company keeps rebuffing its offer. As a shareholder, I believe this is not in our best interests. Sirius-XM has yet to turn a profit and while its subscriber base is increasing, short-term money solutions are becoming a key issue. Some people, like the blog Orbitcast, seem to think that the solution is a Democrat-run FCC. I think we just need more lax anti-trust laws.

Do you use Sirius-XM? Worried about losing your Howard Stern? Chip in and let us know what you think is the right thing for Sirius-XM to do.

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I spotted this on Tumblr last week, so I thought I’d share it with you guys. It’s the tale of a man trying to settle a debt by paying with a drawing of a spider. You’ve got to read this shit to believe it. I haven’t the slightest idea of where to begin…

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