Archive for May 3rd, 2008
Actually..
Saturday, May 3rd, 2008
It stretches back a little farther than 15 years…
I also shouldn’t come across as so smug, I’ve been a consumer more than a saver myself throughout most of this period. Reality didn’t kick in for me until about the age of 33, about the same time my last remaining parent passed away. I imagine there’s some sort of correlation there.
Margin Call
Saturday, May 3rd, 2008
“We are in an economy in which many people are living right at the margins, even middle- and upper-income people. They have little savings, they’ve borrowed so much, their credit-card bills are high, and their house values are going down.”
Fifteen years of over consumption and the margin call just came in.
