I read that article almost the minute it was posted. I think there was a line in there about people spending $117 for every $100 they earned for the past 8 years. Um Hello? And this financial crisis is a surprise? We can't sustain that. we need to become a lender nation instead of a debtor nation and the only way to do that is to have a citizenry with solid savings and net worth.
It seems so obvious. I am sad for people losing their jobs, but I don't see what the alternatives are in the short term. There has to be some pain for us to get back on track.
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