Consumer debt grew in July - The recklessness persists
I wonder who's going to prop the economy now? We've got who knows
what propping the stock market, and reckless consumers propping the
economy, and it's all about to cease..........
We all refinanced our houses at the record low interest rates to pay off those
high interest rate credit cards. Problem is, we don't have the discipline to
stop using the
cards so soon we'll all have twice as much consumer debt as before---(only a
portion of it will be disguised as a home mortgage and will cost a little less
in interest)
I think a lot of folks are cruisin' for a bruisin'
in the near future. Even though it's really their own fault, it's hard to avoid
feeling some empathy for their situation.
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