Originally posted by Bill the Cat
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You really need proof that consumer debt to income ratio stays the same until income reaches the top 20%?
No, I am complaining that we have a VERY skewed version of what "subsistence" entails.
http://www.sciencedaily.com/releases...0419151455.htm
Based on interviews conducted before the 2008 financial crisis, researchers found that even though consumers espouse that they should limit their debt, they take on significant debt because doing so has become normal. As one participant put it, taking on debt is "the American way."
http://www.sciencedaily.com/releases...0419151455.htm
Based on interviews conducted before the 2008 financial crisis, researchers found that even though consumers espouse that they should limit their debt, they take on significant debt because doing so has become normal. As one participant put it, taking on debt is "the American way."
I note that the reality of massive immigration killing wages and employment rates is still being ignored.
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