The consumer buying binge is over

http://money.cnn.com/2007/10/15/news/economy/colvin_buyingbinge.fortune/index.htm?postversion=200710 ^ | 10-16-07 | Geoff Colvin,

[Freedom4US]

"Saving may be a virtue, but it’s just not cool.

"What a difference a day makes." A whole bunch of people are going back to the school of economics whether they want to or not. I don't have much money, but have never been saddled with a lot of idiotic consumer debt either. Our society has been inculcated with the viral notion that if you're not driving a new car, you just ain't doin' it right. Tuition is pretty high at this school.

[trickyricky]

"Get back to work."

Or you could enroll at the community college and borrow $40,000.
then buy $40,000 worth of Chinese "merchandise", then declare bankruptcy.

Just an idea.

[Rummenigge]

lol - yeah. Money is where is look for it.

[trickyricky]

Right, and when the lending institution is stuck with a mountain of bad loans
they can go to the trough and maybe get the taxpayers to pick up the tab.

[Rummenigge]

There’s spoilsports who say they wouldn’t be even going to the trough anymore once brown matter hits the fan.

That’s why bernanke said this helicopter thing...