Yup!
The government is spending so much federally and locally I don’t see how anyone but the govt workers and wall street firms can recover in this mess as all the money being spent is going to those sectors.
Everyone else is screwed.
The government is spending so much federally and locally I don’t see how anyone but the govt workers and wall street firms can recover in this mess as all the money being spent is going to those sectors.
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That’s what I see too. I’m shocked by the passage of banking laws related to consumers. First they got rid of usury laws so the revolving credit burden on regular people went up radically. Then they got rid of the ability to get out of all your revolving credit debt through bankruptcy so the consumer was trapped by the usury. Then they held down mortgage interest rates (while charging 20 something percent to many on credit cards), enticing big chunks of the population to overleverage without fixed rates, leading to foreclosures. Then they bailed out the banks with tax dollars. So the consumer pays usurious rates on revolving credit, can’t escape from it, can’t trust market signals related to mortgages which is general the biggest expenditure of a “consumer’s” life, and then is taxed to pay for the bankers “mistakes.” I put consumer in quotes because we are talking about families, Dad’s and Mom’s, retirees, Grandpas and Grandmas, Newlyweds . . . you know people. Mistake is in quotes because it isn’t really a mistake if you are not moral to gamble with other peoples money . . . heads I win and I’m a centimillionaire, tails I lose and I’m a millionaire.