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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (196574)	10/9/2002 4:51:24 PM
From: No Mo Mo	Read Replies (1) \| Respond to of 436258

A house of cards, if you will? <g>

To: Box-By-The-Riviera™ who wrote (196574)	10/9/2002 5:13:40 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

man!! ur a real drag ... <g>

To: Box-By-The-Riviera™ who wrote (196574)	10/9/2002 5:15:24 PM
From: Tommaso	Read Replies (4) \| Respond to of 436258

I guess I was wondering, though, if that 100% was just other debt: car-loans, credit cards, etc. The debt bubble has been expanding so rapidly that it's hard for me to keep in mind just what it encompasses. I can't guess whether the rsult you point out, which seems inevitable, will cause many banks to fail or numerous bankruptcies, or both. In Japan it seems to have led to a seizing up of the entire economy, where no one wants to admit that the debt is simply unpayable. Loans were issued on the basis of real estate and I guess to some extent on the basis of the stock market valuation that neither the creditors or debtors are willing to admit cannot be paid. It may be the the US will be quicker to admit the situation, but how we get out I don't know. My own personal policy is zero debt of any kind. I have some trouble enforcing this on everyone in my family, but by bailing them out myself I maintain some kind of discipline. But I fuss and holler and threaten. The Fed just lends more money. Imagine what would happen if I just turned everyone loose with credit cards and paid the bills myself every month! I know the family analogy does not really hold for the country. Unless I take up counterfeiting and get away with it --G--