10-10-2007, 02:18 AM
Quote:Internationally, there are a lot of other big factors that determine the value of the US dollar.
But as far as on the homefront, the 'culture of debt' is very disturbing. We've been holding it together for a while, but the surge in sub-prime variable interest rate mortgages over the last 5ish years may be a tipping point in our economic boon.
A friend of our family told us how his sister, just bought a $650,000 house. She makes 30,000 a year, and her husband is currently unemployed:wacko:
Of course, everyone told her not to do it, and warned her, but the allure of a big house and a feeling of entitlement drove her down a very very bad path. One too many Americans are going down.
Cheers,
Munk
You'd think they would've seen it coming....
Funny, sorta.