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Economy

Warpy

(114,671 posts)

6. Anyone who thinks this is sustainable probably voted for Big Dummy

Reply to marmar (Original post)

Mon May 11, 2020, 01:23 AM

May 2020

At some point, people are simply squeezed so hard they pop. At that point they thumb their noses at the creditors and hit the road. And at that point, the whole topheavy mess comes tumbling down, taking the banking system and jobs along with it.

No amount of tweaking is going to prevent this. It needs radical, systemic change and no one in either party will have the guts for that until things are desperate and angry crowds are assembling.

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The State of the American Debt Slaves, Q1 2020 [View all] marmar May 2020 OP

I get the impression that there is going to be a huge wave of bankruptcies in the not-too-distant alwaysinasnit May 2020 #1

Didn't the (r)epuglicons make personal bankruptcies just about impossible? erronis May 2020 #4

The biggest hurdle for bankrupcy petitions is a means test. That is how the Repugs made it harder to alwaysinasnit May 2020 #5

Wish I could rec 1000 times. LakeArenal May 2020 #2

While I agree that consumer debt is a growing problem, I've got to.... EarnestPutz May 2020 #3

Thank you for pointing that out. It's a classic tactic from "How to Lie With Statistics." NT mahatmakanejeeves May 2020 #7

Anyone who thinks this is sustainable probably voted for Big Dummy Warpy May 2020 #6