Wall St. wins Capt Obvious award

[Captain Morgan]

Originally Posted by smileyman

Our society has become a consumer spending crack pipe. Consumer buy all they can period. Consumers have adjusted to the income/inflation deficiencies over the years. Revolving credit, crunch down mortgage consolidations, went from 24 mo auto financing in the 70s to 72 mo finances and leases today. Mortgages from 10 yrs to 30, then adjustable rates to afford even longer effectual amortization.

this has been brewing for decades fellas. The middle class aged and shrank. Corporations turned out profit at the expense of long term viability. And I dont buy the global market crap. We started the global market by becoming huge importers, allowing a huge trade deficeit, closing off our natural resources for cheaper foreign alternatives, oil dependency, policing the world while fighting communism with trade deals that dealt us out...



shit I am tires of thinking about it.

yep. It's an ebb and flow. Right now, I think our society is starting to swing back toward a slight fear of debt (or maybe simply a respect of debt). We had been in a buying frenzy for awhile and I think we may be starting to swing the other direction. Our memories will be short and we'll then get back into the debt cycle and go through all this BS again. For some reason, we humans are incapable of learning from our mistakes over the long term. And we have great difficulty learning from the mistakes of others. Which is why history has a tendency to repeat itself.