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credit is another example of the mad financial race to the bottom we have been engaged in, which spending more and more money you don't have inevitably evolves into.
we created a system that made it insanely easy to be over leveraged in every way... and rewards it. banks are over leveraged as are the citizens as is the country/government itself. our country relies more and more on credit to get by. the entire economy depends on credit to create the conditions to get more credit and it all has to collapse from time to time since its nothing more than a simple pyramid scheme - ... we live in a world where its became normal to borrow money from the bank to buy a 3.00 sandwich. its totally fucking insane.
when the credit ponzi scheme collapses... what do we do? we call a few people on Wall Street "greedy"... we haul a few bankers before Congress, we blame everyone but ourselves and then ... the funniest of all... we try to correct a cultural problem of borrowing.. by doing what? by borrowing the largest amount of money that's every been borrowed.
wow
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