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Things aren't good, but so long as you continue to see lines at the local "Applebee's" and a goodly number of cars on the road....we're not even close to a Depression.

This really bothers me. The restaurants were packed this weekend. I was there too. I asked the hostess how people were paying for their meals. 99% CREDIT CARDS!!!!! Americans don't have a clue how to be poor. How to save and live on cash. So... when this one blows, think currency collapse. It won't be 1935, it will be MUCH worse. Think Berlin 1921.

Think about this. The masses of Americans have credit card borrowing power because these charges (loans) are bundled and sold to investors who believe people will repay their credit card debt. There has always been fresh money available to fund new credit card charges because credit card interest rates are roughly 18%.

So what happens when investors no longer believe people will pay back their credit card debt? Investors stop lending money to banks for the purpose of funding more credit card debt.

This means credit cards are turned off for all but the very credit worthy (kind of like 1965 when only wealthy people were trusted with credit). Then... how do the masses buy gasoline? How do they pay for restaurant meals? Buy cloths? Take vacations? buy groceries? Health care? Answer: With cash. But... if they don't have jobs, they don't have cash and they don't have credit cards to "bridge" themselves. If they don;t have savings (and, today, who does?) then they can't buy stuff.

Then... they get angry and start attacking rich people who still have jobs or money. In any event, Obama & Co. will be blaming the REPUBLICANS because the Republicans can't mount a serious challenge and can't defend themselves. It will be all leftist media all day blaming all of this on Republican candidates and "failed" policies...

Oh, come on! I’ve been using credit cards for years - because of convenience. I pay them off in full every month - no fees, interest, & etc. Friends & relatives do the same thing. Using a credit card is not a solid indicator of living beyond one’s means and drowning in debt as some would have you believe.