Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

Good points Webster but I will conjecture that our standard of living is too high in the US and we need to gat back to reality with other nations. We are a nation of "fat cats."

The guy who fills my propane tanks for my gas grill at the local Hertz 4 Rents owns 3 cars, one being an Expedition. He's a few teeth short of a complete set and is in debt on all three cars but his wife really wanted the Expedition which is a $40K retail vehicle. Since Ford owns Hertz, he gets a good deal on the products.

Our government is encouraging it's citizens to be in debt over their head with the misplaced idea that it is going to save the economy. With cheap home loans, everyone is refinincing and many getting ARMs or interest only loans. In fact most loan companies that call me want to know "how much additional money I want to take out of my house" and if the answer is none, they are really not interested in the business. When rates turn up, there is going to be one big bursting of a bubble.