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Reply #60: Think of all the Americans who have taken out Home Equity lines & spent [View All]

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Pachamama Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 03:28 PM
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60. Think of all the Americans who have taken out Home Equity lines & spent all on "consumer" goods like good patriots and then when their house becomes worth less than they paid and they owe more on it than they can sell it for....

Wonder what Dimwit and his Economic advisors will call that?

Unexpected? Not at all...I've been waiting and expecting this to be coming this year (actually, expected it sooner) but just wait until a huge terrorist strike happens or another oil price surge and this economy is going to hell....foreclosures, real estate prices dropping fast, the whole enchilada....

Then the really rich can take all the cash that they have and buy it up real cheap....It's the American Way....

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