Americans are "addicted to credit". Now when it looks like we need to live within our means we are told we need $700B to keep the credit addiction for a little while longer. At some point we will need to stop and pay back the $10 trillion.
The average American with a credit file is responsible for $16,635 in debt, excluding mortages, according to Experian. (Source: U.S. News and World Report, "The End of Credit Card Consumerism," August 2008)
Radio ads, tv personalities and commercials. Most fianancial advisors and credit collection agencies and IRS help guys quote this figure alot.
Whoa. A sighting of the permabull of permabulls, stock_trad3r? In this market? I thought you were hiding out until the S&P 500 hit 1400 again.
Here's the problem with your 700 billion dollar gift to the crooks. It does nothing to address the real problem. I'll put it here in writing. Before the spring thaw of 2009 we will have double digit unemployment. Housing prices will still be in decline and the crooks that you gifted the 700 billion to will have their hands out again. This will happen regardless of which party takes the election and I'll be here to say I told you so.