Moon Kil Woong

The Big Spending Fade Rolls On

Yum... I look forward to $1 McDonald's meals and $0.10 apples again. It just may be hard to find my piggy bank in the garage amidst all the junk. And that's just about the crux of the problem. Too much profligate spending, no savings, and a boatload of federal, trade, and personal debt. Only about 5% of the population has a positive net worth and dropping. If you don't include your illiquid (and falling) house price it drops to about 3%. So who has $... the banks, super rich, and no one else. They just have debt disguised as cash (also known as the credit card). No wonder $ is becoming precious no matter how much artificial $ they make and dump into the financial system.