The USA thought the dow hitting 6000-ish was scary a while back? That was a bump. I have a bad feeling we're about to be hit with the one-two. This is the 'two'.
I've seen the spending friends do--buying a new car every other year, buying crazy stuff they put on credit cards.. It's all gonna default soon--I know MANY people that are about to file bankruptcy, or are on near it.
The ONLY way this can be 'fixed' is do a massive reset of all loans. basically kill all debt, and start over with new rules. or rules to protect abuse. hell, I don't know if this would work, as it would cause all stocks to fall to zero. since there would be nothing to trade worth a damn.
