Al-USA

Consumer Credit Continues to Plunge

igggy wrote:

"
Cetin....Where do you think americans will get money to spend by the end of 2009?

Until recently, loose credit and home equity supported high spending.
"

Exactly. Combined with no real increase in wages, after inflation, since the 1970's, "joe sixpack" has his "back to the wall", as it were. To top it off, "joe sixpack" knows that the capitalist system in the USA is socialist for the top 1%, in that it is trying to climb out of the financial hole it created on the backs of the masses of the working/middle class.

The blinders are off, highly visible real life events, the $trillions in bailouts of the banksters, has deprogrammed the masses, Realizing they live in a system with the odds stacked against them, and susceptible to job loss at a moments notice, there is only one way out for masses, save, save, save...

Financials Watch: AIG Brouhaha Distracts from Other Improprieties

Good article.

So much for the "free" markets. And so much for capitalism...