Sad But Enlightening Debt Statistics - Page 2
"The herd has been mad since 1970 and with the post economic collapse of 2008, some people are recovering their senses slowly, and one by one. The country was overrun by flocks of ostentatious peacocks displaying their plumage in an effort to impress their friends, families and work colleagues. What set the flaunting American peacocks apart was the fact they financed their splendid display of plumage with $0 down and 0% interest for seven years. The lifestyles of the rich and famous miraculously became available to the poor and middle class through the availability of easy abundant credit provided by the friendly kind hearted Wall Street banks and their heroin dealers at the Federal Reserve."
This is an intriguing read for those interested in the behavioral implications of economics.
Related Articles:
The Debt Ceiling, A Political Red Herring (kapitalcon.wordpress.com)
Income Inequality: Republicans and Democrats Agree, Less is More for the Middle Class (kapitalcon.wordpress.com)
Peacock Syndrome – America's Fatal Disease (theburningplatform.com)
US Debt Downgrade (economicnoise.com)
Keeping Pace with a Declining Empire (dailyreckoning.com)
Follow Technorati