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Politics : View from the Center and Left

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To: epicure who wrote (5788)	11/26/2005 10:24:02 AM
From: Dale Baker	Read Replies (1) of 542169

When a society's "prosperity" is dependent more on more on its ability to borrow at every level - federal budget, trade deficit, credit cards, cash-out refis, HELOCs, etc. - something has to be wrong under the hood. On the one hand, it's flattering and useful to qualify for so much credit, to have the lender's confidence to that extent. But if the lenders get stupid and go too far, and the borrower really doesn't have the assets and earnings power to make good all his commitments, the ending gets very ugly. Maybe people should be forced to move every couple of years like I do. That will make you sick of dealing with all that precious "stuff" LOL.

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