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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Oblomov who wrote (75280)12/11/2006 1:09:15 PM
From: GST  Read Replies (2) of 110194
 
The poor have bad credit ratings. The poor have little if any credit. They have nothing. All they have is a future full of bills that squeeze them harder and harder every month. The big debts are with the 'middle class' -- lower, middle and upper middle class. Inflation screws the poor, benefits the middle class and for the rich it is a matter of how smart they are. Viewed from that perspective, the middle class have been brilliant to take on so much debt. Of course one of the ravages of inflation will be the increased interest charges associated with that debt. To the extent that the middle class are hooked on variable rate credit, they are screwed.
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