"Yesterday there was news that Americans were spending more." Yes, credit card use IS rising ... because unemployed people are again having to rely on that high-interest borrowing (from those TARP-bailed-out banks) to heat their homes and to eat. Yet Obama says we have to be very careful cutting government spending so as not to endanger the recovery.
"Yesterday there was news that Americans were spending more." Yes, credit card use IS rising ... because unemployed people are again having to rely on that high-interest borrowing (from those TARP-bailed-out banks) to heat their homes and to eat.
ReplyDeleteYet Obama says we have to be very careful cutting government spending so as not to endanger the recovery.
Pray. Pray for more time. If not for yourself for me. Thanks in advance.
ReplyDeleteI'm sure the IMF will have a stack load of austerity documents waiting in the wings when it finally collapses.
ReplyDeleteThe Germans have a saying: "Better a dreadful ending than endless dread."
ReplyDeleteWe'll get to put that one to the test soon.
How will events unfold?
ReplyDelete- Long slow grind?
- A few sudden mini-crashes, spread out?
- One tumultuous week?
Fed.gov is doing everything it can to 'boil the frog slowly', to give themselves time to prepare and to extract every last drop before the gig is up.
At our house- We invested in some bulk food 'superpails' of Popcorn. Don't forget you'll need oil and salt, too.