washingtonpost.com — Easy credit has been the economy's lifeblood in recent years. It gave people who previously couldn't afford homes a crack at the American dream. It fueled multibillion-dollar takeovers of some of corporate America's biggest names. It buoyed the stock market and propped up the prices of many other assets.
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dracostimpyJul 27, 2007
(And by energy, I mean from sources OTHER than sunlight. DOH!)
pb4upooJul 28, 2007
Living in debt is the smartest option for millions of Americans. Lack of universal medical care is one great reason. I have a nephew who has had two liver transplants. Eight years ago if his dad got a 50 cent raise at work he had to quit the job rather than allow the raise or the child would not get care. As the kid's medical bills got close to 2 million dollars a debate over whether $5.50 per hour being too much to receive help for the child was absurd. There are less extreme examples all around us. People who receive Medicaid are warned by those in the know that they need to keep a bare bones bank balance as even one dollar a year in interest has been known to reach the Medicaid toggle point and then all hell breaks loose as they are forced into high co-pays on their medical bills. The solution is to divorce Medicaid from the money available to the recipient and simply give the public they deserve.
appetiteJul 28, 2007
Well, I don't fall for it. But clearly, people do. The credit card companies shouldn't be called 'bad', you're right. It might hurt their feelings. They have no control over what they do... it's just everyone else that does.
bitorlogicJul 28, 2007
I think this part is interesting:"Individuals, however, took a breather as they coped with high gasoline prices and the ill effects of the housing slump, including spiking foreclosures and late mortgage payments. The sour housing market continued to weigh on the economy but not nearly as much as it had in previous quarters."How can any economy be said to be _stronger_ if the average individual in it has less economic power? Doesn't this just mean that a small percentage of people are now making lots more money while most of us are effectively making less? Why would that be something for Bush to "crow about" (as per the article)?
bitorlogicJul 28, 2007
I guess that's great news for people who are heavily invested in the Dow. For the rest of us ...
amoutboundJul 29, 2007
Excellent. I bet this will become one of the famous qoutes of the next great depression.
lordsalisburyJul 30, 2007
Welcome to reality. Just follow the trail, most of us figured this out years ago.and buy gold.
macman2kJul 30, 2007
Elect Ron Paul and (we the people) will get a significant improvement in spending!