Americans racking up credit card debt like it's 2007!

[damba]

Originally Posted by Hoonose

Please then describe your view.

There's no need to re-iterate what Pub wrote. Familiarize yourself with the housing market and then, the crazy financial products that blossomed during that time period, and it will hit you like a ton of bricks.

[Hoonose]

Originally Posted by damba

There's no need to re-iterate what Pub wrote. Familiarize yourself with the housing market and then, the crazy financial products that blossomed during that time period, and it will hit you like a ton of bricks.

I am very familiar. The crash would not have happened without housing. Housing is what created the money to stoke the flames of the subsequent blossoming financial craziness.

[damba]

Originally Posted by Hoonose

I am very familiar. The crash would not have happened without housing. Housing is what created the money to stoke the flames of the subsequent blossoming financial craziness.

In that case, we can agree to disagree that this is the same as a 'which came first, the chicken or the egg' scenario.

cheers

[Hoonose]

Originally Posted by damba

In that case, we can agree to disagree that this is the same as a 'which came first, the chicken or the egg' scenario.

cheers

The house is bought, the mortgage issued, the paper then gets passed....