January 21, 2008
– Comments (9)
Thank you for posting that.
its about time for a move like that.
I watched that movie last year. It was pretty good.
Right, it is completely insane. BankAmericard, AKA Visa comes into prominence at the same time Nixon takes us off of the Gold Standard. There is NO such thing as middle class. In the US, for the last 30 years, we have called poor people with good credit = Middle Class. As their credit deteriotes, they will begin to realize that they are actually poor. First they tapped the credit cards, then they tapped the house, now they beg for government cheese, a scared and hungry mouse.
FYI - Jan. 21 (Bloomberg) -- Stocks tumbled from Hong Kong to Brazil, and U.S. futures posted their steepest drop since 2001, on mounting speculation the world economy is slowing and company defaults will rise.
I guess there is not going to be a rally to increase my short position.
Did you know that only 40% of Americans have debt? 25% don't have credit card debt at all and 30% pay off their monthly card bills immediately. Only 4% of those that are indebted owe $10'000 or more, only 1% owe $20'000 or more...
The statistical indebtedness of the American consumer is widely distorted, because it is a statistic.
The gross private savings rate:
Yes, you are a woman DWOT. Sorry about that. Great timing for the maxedout movie. UAFOOL
Cami, you may be talking about credit card debt, but a home is now more of a liability than an asset. With tumbling home values, many, many Americans owe more on their homes than they are worth, and have borrowed agaimnst them to control the credit card debt. Just ask American Express, if their generally more affluent customers are falling behind.
Apparently you can get the movie on DVD now.