me 2... i make $40k a year, and I am being punished for being financially responsible. It's bs. Well, the joke is on us, eh? And I was the one making fun of friends for taking out the mortgages they had no chance of paying off. Oh well.
Yeah, but you're underestimating the stupidity of the average consumer. You're assuming they will act rationally, when it is irrationality that lead them to taking bad loans to begin with. I'll bet you the average joe on the street doesn't even know the difference between recession and inflation, let alone how to react to it. Joe Six Pack and Suzie Creamcheese will just keep making their paycheck and blowing it on stuff at Walmart. They don't have the discipline to save like the Japanese, nor do they have the understanding of why it might be wise. SM
overheard at a car dealership "I dont care how much the car costs, just tell me what the monthly payments are"
That's what you get you stooopid idiot. You should've been at least 80k in debt, based on your salary. Then you to would benefit from the effects of inflation. I hate irresonsible, responsible people in inflationary times.
the Bernanke rate cut is the "please-buy-my-underwater-condo" monetary Dunkirk... something the gold market is coming to understand........