And there's a massive redistribution of wealth going on from the saver/investor class to the consuming class. Interest rates should be much higher than they are, but if they were, which would help savers and investors and attract foreign investment, it would "penalize" people who are addicted to credit and, frankly, hate people who are not fellow addicts. No one really cares about people who have prudently saved and amassed capital. Realists will prepare themselves for hyper-inflation.
TRUTH. I am SO tired of hearing people while about how they can't afford this and that, and they can't afford their mortgage, car payment, credit card bills...
I have what some would call a "grunt" job(battery delivery driver) and I work hard for what money I make. My wife is a teacher and works VERY hard for what she makes. The only debt we have that isn't paid off monthly is our mortgage. We drive old cars. Credit cards get paid off monthly. We are RESPONSIBLE and have been since before we were even married.
So tell me again why I should donate to the guy down the street, who got fired because he's lazy, got his brand-new car repo'd, and didn't bother to save any money? I care because he's my neighbor, but I certainly don't care enough to subsidize his foolishness.
This isn't going to do any good. In the end, what it comes down to is people's poor decisions being legitimized.
