The Next Big Crisis - Credit Card Defaults
Take a look at this link:
What's disconcerting is not merely the contents of the article which talks about "an estimated NPA of 10.62% of all credit card dues", but the fact that the figures are bandied about as being almost routine and normal.
In contrast, the corresponding figure in India is likely to be a very low single digit figure. And, most Indians don't have a credit card in the first place.
Watch out for the next crisis!