true enough yc. however, many will be spending less on food. not such a bad thing considering the obesity i see around
overextension of credit is the achilles heel of capitalsim. almost every financial catastrophe in the past can be attributed to it.
how and when this ends is anyone's guess but it's safe to assume the worst lies ahead.
how american financial regulators could stand by whilst banks flouted reserve capital requirements during the past decade is criminally negligent.
heads won't roll yet. in the end they will
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