The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Nikole Wollerstein who wrote (64736)	10/23/2006 6:42:07 PM
From: Elroy Jetson	Read Replies (1) of 306849

This financial strategy "Grandpa's got a new credit card" was pioneered by Ronald Reagan and was continued to excess by both George Bush and George W Bush. Spending money on debt is always a "feel good" experience. Its only later that it doesn't feel so good when the bills come due. Even Russia has been able to pay off all of their national debt by going through a lot of pain. There's no excuse for the deficits Bush is running, and paying them off will require pain similar to that experienced by the debt-laden Soviet Union. But once the debt gets that bad, no doubt it will be time for you to switch counties again. .

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